1. Jill and Julie have been in a long-term, non-traditional relationship. Their domiciliary state does not allow or recognize same-sex marriage. Jill wants to make sure that if she dies first, Julie will be provided for. Which of the following would you be likely to recommend to fulfill Jill’s goal of transferring assets to Julie at Jill’s death?
Name Julie as the beneficiary of Jill’s retirement plan.
Transfer the ownership of Jill’s real estate investments into Tenancy by the Entirety.
Advise Jill against writing a will that specifically bequeaths assets to Julie.
Recommend that Jill and Julie move to a community property state.
2. Transfers to irrevocable trusts are treated as completed gifts and are subject to gift tax? explain please
True
False
3. Simply not listing an heir in a will is sufficient to disinherit that heir. explain
True
False
4. Stock represents shares of ownership in a company.
True
False