Requirements for a durable power of attorney device include all of the following except:

Question 25 options:

The principal must be of legal age

The attorney in fact must be of legal age at the time the power is exercised

There is no special or specific wording required for durable power of attorney to be conferred

Competence is a requirement of the principal

All of the following are trusts that will qualify for the marital deduction except:

Question 27 options:

QTIP Trust

Estate Trust

Portability Trust

Power of Appointment Trust

With regard to post mortem income tax elections all of the following are true if the decedent transferred property before death,except:

Question 33 options:

If a decedent made an installment sale, the estate can elect of of installment reporting

If property of the decedent was involuntarily converted (i.e., destroyed by natural disaster, condemned) the estate or successor may be able to replace it and avoid taxation of gain to decedent for income tax purposes

A decedent must be declared of sound mind before transferring any property before death

A decedent has the right to make transfers of property before death