Property of decedent reverting to his or state of domicile

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Reference no: EM131352743

1. Which of the following terms refers to the property of a decedent reverting to his or her state of domicile?

a) Intestate

b) Succession

c) Apportionment

d) Escheat

2. Which of the following interests in real property gives the owner of the interest the most control over the property?

a) A life estate

b) A remainder interest

c) A retained interest

d) A fee simple estate

3. A wife makes outright gifts of $96,000 to her son, and her husband agrees to split the gifts with her. Which of the following correctly states the amount of the taxable gifts?

a) Wife - $26,000, husband - $46,000

b) Wife - $34,000, husband - $34,000

c) Wife - $46,000, husband - $46,000

d) Wife - $72,000, husband - $0

4. Which of the following items is a deduction from a decedent’s gross estate in determining the adjusted gross estate?

a) Foreign death taxes

b) State excise taxes

c) Claims against the estate

d) The marital deduction

Reference no: EM131352743

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