A:

A. funeral expenses.

B.
debts owed at time of death.



C. gift tax credit used during life.



D. the value of property that passes from the deceased to the surviving spouse.



Answer: B



Taking a long position on an option - that is, buying it - incurs a premium; not exercising the option means losing that money.



RELATED FAQS

  1. What is a family Limited Liability Company (LLC)?

    Learn about family limited liability (LLC) companies and why they are useful tools in the United States to protect family ...
  2. How is maintenance of standard of living for survivors accomplished in estate planning?

    Understand what elements of an estate plan can assist in creating certainty for survivors that allows them to maintain their ...
  3. What is the difference between an intervivos trust and a testamentary trust?

    Understand the differences between a testamentary trust and an inter-vivos (living) trust, and learn why each is important ...
  4. What are the differences between a Chartered Financial Analyst (CFA) and a Certified ...

    Understand the differences between a Chartered Financial Analyst and a Certified Financial Planner. Learn how each approaches ...
RELATED TERMS
  1. See-Through Trust

    A trust that is treated as the beneficiary of an individual retirement ...
  2. Settlor

    The entity that establishes a trust. The settlor also goes by ...
  3. Personal Representative

    The executor or administrator for the estate of a deceased person. ...
  4. Contingent Beneficiary

    1. A beneficiary specified by an insurance contract holder who ...
  5. Laughing Heir

    A distant relative who has inheritance rights despite not having ...
  6. Ultimogeniture

    A system of inheritance whereby the youngest son gains possession ...

You May Also Like

Related Articles
  1. Entrepreneurship

    MLPs: How They Are Taxed

  2. Professionals

    Top Strategies on How to Become a Stock ...

  3. Bonds & Fixed Income

    A Look at the Pros and Cons of Muni ...

  4. Mutual Funds & ETFs

    4 Tax-Free Muni Bond ETFs to Consider

  5. Investing Basics

    Passing Boomers Will Leave A Big Economic ...

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!