Lesson Five Quiz: Click on your response for the correct answer.

1. Heirs, other than charities, may owe both income taxes and estate taxes on the following assets:		3. To name a charity as an IRA beneficiary you must:
A. stocks and bonds Please try again.		A. ask the custodian for a form Congratulations, correct answer.
B. savings bonds and IRAs Congratulations, correct answer.		B. change your will Please try again.
C. cash Please try again.		C. establish a revocable living trust Please try again.

2. Charitable trusts established in your estate plan can:		4. Trusts that pay income to charity first and then to heirs are called:
A. pay income to family members for life Please try again.		A. charitable remainder trusts Please try again.
B. create estate tax and income tax savings Please try again.		B. contingent trusts Please try again.
C. Both A and B Congratulations, correct answer.		C. charitable lead trusts Congratulations, correct answer.

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