1. Which statement about the gift tax marital deduction is incorrect? a. One spouse may gif any amount to the other spouse without gift tax as long as the gift is not te interest property b. The unlimited gift tax marital deduction is not available to non-citizen s c. Non-citizen spouses may receive survivor benefits under a joint-and-survivor annuiry he regular annual exclusion available to all donees is available for gifts to non-citizen spouses. 2- The marital deduction is a. Limited to S15,000 per year of marriage b. Limited to $152.000 (as indexed for inflation). c. Unlimited. d. Unlimited except for lifetime gifts. 3. Oaly propery that passes from the deceased spouse to the surviving spouse is eligible for the marital deductio Which of the following will not qualify for the estare tax marital deduction a. A terminal interest in properry b. Propernty passed under state intestacy laws c. Life insurance proceeds d. Property passed by will. 4. Which of the following is not an advancage of the marital deduction? a There is no estate tax at the first spouse's death. b. The surviving spouse receives a stepped up basis on propeny qualifying for the marital deduction. c. With proper planning, it provides a way to minimize estate tax liability for both spouses. d. If the first spouse to die took full advantage of the marital deduction, all property in the surviving spouse's estate at his or her death is subject to the federal estate tax. 5. A QTIP trust must: a. Be in the form of a testamentary trust b. Give the surviving spouse the right to reqaire only income producing assets be in the trust. c Permit the trustee to use any amount of the trust principal for any purpose for the spouse. d. Give the surviving spouse a general power of appointment over the assets. Estate Planning Chapter 10 Homework Questions