Planned Giving: Bequests and Charitable Gift Planning

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The Ins and Outs of Estate Taxes

Have you done everything you can to minimize estate taxes? Take our quiz to learn more.

1. In 2012 the federal estate tax is

A. Repealed

B. Offset

C. Applicable for estates worth more than $5.12 million

2. A bypass trust is a way of

A. Avoiding gift tax

B. Minimizing estate tax

C. Aiding heart patients

3. The marital deduction permits unlimited tax-free gifts

A. Between spouses

B. By a married couple to their children

C. Of personal effects

4. Charitable bequests are free of estate tax

A. Up to 50 percent of adjusted gross income

B. When made to a QTIP trust

C. Without any limit

5. Income taxes on retirement plan assets can be generally deferred

A. Until April 1 of the year after you turn 70 1/2

B. During your lifetime until funds are withdrawn

C. If your estate is the beneficiary

6. Gift-splitting is used by married couples to

A. Double the $13,000 annual exclusion

B. Divide funds among children

C. Evade gift tax

7. Creative estate planning's primary focus is on

A. Estate tax savings

B. Family, life and human values

C. Property values

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.

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