USA: +1 (725) 712-1730 
Sign in
QUESTION 37
Which of the following would qualify for a gift-splitting?
Herbert and his wife Kelly transfer stock worth $30,000 to their son Ignatius.
Jakob and his wife Mariska, a Hungarian citizen living in Hungary, transfer stock worth $30,000 to their son Istvan.
Louise and Marv transfer stock worth $30,000 to their son Nels before their divorce, although Louise has since remarried.
None of the above.
2.22222 points Save Answer
QUESTION 38
Which of the following would most likely be included in the decedent’s gross estate?
$100,000 face value life insurance policy on the life of the decedent’s brother.
$100,000 undistributed retirement account balance.
$100,000 bank account held as joint tenants with rights of survivorship with the decedent’s spouse.
All of the above.
2.22222 points Save Answer
QUESTION 39
Oscar dies on February 2, 2016. The property included in his gross estate could be potentially valued for estate tax purposes:
on February 2, 2016.
on November 2, 2016.
on August 2, 2016.
Two of the above.
Expert Answer
Herbert and his wife Kelly transfer stock worth $30,000 to their son Ignatius. This statement would qualify for a gift-splitting.
If husband and wife may agree to split gift for a given calender year so that all gift given by both of them is considered as gift and transfered one half by each spouse, if each of the following are met :
– At the time of gift, both husband and wife must be U.S. citizen.
– The spouses must be married at the the of gift but if subsquently they divocred, then the remainning year they would not remarried.
– Both husband and wife must agrre to gift made by one half each of them.
