AAMS Module 9; Questions and Answers 100% Verified

AAMS Module 9; Questions and Answers 100% Verified Tenancy in common is a form of property ownership that Correct answer-will require probate upon the death of a tenant. An investment professional who is not an attorney is engaged in the unauthorized practice of law when he or she counsels a client regarding the Correct answer-validity of a living will. All of the following assets would be included in a decedent's gross estate except Correct answer-the decedent's vested interest in a single life annuity on the decedent's life. A tax disadvantage of making a lifetime gift rather than a transfer at death is that Correct answer-the gift tax exclusion amount is not portable between spouses, but the estate tax exclusion amount is portable.