True/False

1. A qualified disclaimer can be used to prevent the wasting of the decedents unified estate tax credit created when the Will directs all assets pass to the surviving spouse. Such assets pass based on the surviving spouses Will as if the surviving spouse predeceased the decedent.

2. Life Insurance, often used in estate planning, is only needed if there is an outstanding mortgage, auto loans, or other forms of debt requiring payoff at the decedents death.

3. Term Insurance allows for a policy loan against the policys cash surrender value.