Question
With a goal of minimizing taxes in estate planning, the taxes that must be taken into account are all of the following except a. estate
With a goal of minimizing taxes in estate planning, the taxes that must be taken into account are all of the followingexcept
a. estate tax.b. life insurance proceeds tax.c. gift tax.d. income tax.
In 2015, only estates of more than $2,500,000 will be subject to taxes on their transfer either by gift or by estate.
a. Trueb. False
Gloria would like to give some of her assets to her loved ones in order to reduce the size of her estate. She can give up to $14,000 per year to as many people as she desires with no gift tax being due.
a. Trueb. False
There would be no gift tax on the transfer of $10,000 into a trust with the provision that the money be available in 2 years when the individual turns 25.
a. Trueb. False
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