Question
41. Your client is contemplating marriage and has come to you to discuss how assets will be treated in the community property state he resides
41. Your client is contemplating marriage and has come to you to discuss how assets will be treated in the community property state he resides in. You explain to him all of the items that follow would be considered his sole property interest with the exception of which item?
A. 10,000 share of GE stock he inherited from his parents
B. A gift of a vacation home in Florida from his sister.
C. Income earned by him earned during marriage.
D. Income earned by him prior to marriage.
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42. Which of the following estate planning objectives cannot be accomplished by the valid execution of a will by a client?
A. It will avoid the expense and publicity of the Probate process.
B. It will provide for family income during the Probate Process.
C. It can be used to establish a Testamentary Trust.
D. It can provide the percentage of the estate that can be used to care for a pet.
E. It can be used to create a presumption of survivorship.
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