1. Which of the following are required in order to utilize the marital deduction?

(1) Spouse must be a U.S citizen.
(2) Property passing to the spouse must be included in the decedent's gross estate.
(3) Decedent must be married for at least five years.
(4) Decedent must be legally married at time of death.
(5) Spouse must file a gift tax return for the property received.

A) 1, 2, 3 only
2, 4 and 5 only
1, 2 and 4 only
D) All of the above

2. Which of the following are advantages of a Qualified Domestic Trust (QDOT)?

I. Taxes are paid at the death of the first spouse.
II. Taxes are delayed until the death of the surviving spouse.
III. This trust provides assets for the non-U.S. citizen spouse.
IV. Allows the non-citizen spouse to qualify for the marital deduction.

A) I and III only
II, III and IV only
I and IV only
D) II and III only

3. Which of the following is not a method of leaving assets to a spouse under the marital deduction?

A) Naming your spouse as an IRA beneficiary
Power of appointment
QTIP trust
Specific outright bequest

All of the following are exceptions to the terminal interest rule, EXCEPT:

A) QTIP income for life
General power of appointment
Property that reverts to the children if surviving spouse remarries
CRAT beneficiary

Answer Key

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