• 
  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• A. Repealed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• B. During your lifetime until funds are withdrawn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

Copyright © The Stelter Company, All rights reserved.

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