Lesson Four Quiz:

Click on your response for the correct answer.

1. Which of the following is NOT a benefit of revocable living trusts?		3. Probate laws exist for the purpose of:
A. avoidance of probate Please try again.		A. assuring that an estate’s debts and taxes are paid Please try again.
B. reduction of income taxes Congratulations, correct answer.		B. safeguarding estates and implementing wills Please try again.
C. financial management during disability Please try again.		C. both A and B Congratulations, correct answer.

2. A trust that provides lifetime security to your spouse and passes to beneficiaries is a:		4. Charitable remainder trusts allow individuals to:
A. revocable living trust Please try again.		A. make substantial gifts, keep lifetime income and receive tax deductions Congratulations, correct answer.
B. Crummey trust Please try again.		B. eliminate all future income taxes Please try again.
C. QTIP trust Congratulations, correct answer.		C. revoke their gifts if they so choose Please try again.

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