An inter vivos trust Study guides, Class notes & Summaries

NALA Certified Paralegal Exam Terms and Concepts Questions with complete solution 2023/2024 Estate administration - correct answer The process in which a decedent's personal representative settles the affairs of the decedent's estate (collects assets, pays debts and taxes, and distributes the remaining assets to heirs); the process is usually overseen by a probate court. inter vivos trust - correct answer A trust created by the grantor (settlor) and effective during the grantor's lifetime...

The following questions are based on the material in the textbook “Advanced Income Tax Law” by Peter Baker, Geoff Cliff & Sonia Deaner, 15th Edition (January 2018) Activity instructions to candidates • This is an open book assessment activity. • You may use a financial calculator or computer application to help calculate values • You are required to read this assessment and answer all questions that follow. • Please type your answers in the spaces provided. • Please ens...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal, ISBN-7. All Chapters 1-23. (Complete Download) Version 1 1 CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient app...

The following questions are based on the material in the textbook “Advanced Income Tax Law” by Peter Baker, Geoff Cliff & Sonia Deaner, 15th Edition (January 2018) Activity instructions to candidates • This is an open book assessment activity. • You may use a financial calculator or computer application to help calculate values • You are required to read this assessment and answer all questions that follow. • Please type your answers in the spaces provided. • Please ens...

NALA Certified Paralegal Exam Terms and ConceptsEstate administration - correct answer The process in which a decedent's personal representative settles the affairs of the decedent's estate (collects assets, pays debts and taxes, and distributes the remaining assets to heirs); the process is usually overseen by a probate court. inter vivos trust - correct answer A trust created by the grantor (settlor) and effective during the grantor's lifetime—that is, a trust not established by a will...

Any rate of interest above the maximum rate allowable by law is: a. fiduciary b. usury c. undue influence d. duress - correct answer b. usury The party who makes an offer is called the: a. offeree b. offered c. offeror d. optional - correct answer c. offeror The party who is sued in a civil suit is known as the: a. defendant b. plaintiff c. offeror d. administrator - correct answer ...

Alabama Real Estate Exam Already Graded A+ Special or Specific Agency ️The Principal gives the agent authority to do one specific thing-sell property. They enter into a contract that stipulates how the task will be done-multiple listings of the property, commission paid etc. General ️Principal and agent enter into a contract giving the agent the authority to conduct several activities-show property to renters, check references and negotiate leases. Designated agency ️A dual age...

PROPERTY Ownership Ownership of real property may be transferred by sale, gift, upon death by devise (will) or intestate succession. - Present Possessory (Freehold) Estate: an estate must be immobile and for an indeterminate duration; the owner has the right to currently possess the property - Future Interests: an interest in presently existing property or in a gift or trust; the use, possession, or enjoyment may start sometime in the future - Concurrent Estate: ownership or possession of r...

ATT Exam #1 Questions with 100% Correct Answers Personal Residence Grantor Retained Interest Trust - Answer-Gift and estate planning. Inter vivos trust when grantor retains the right to occupy trust property as a personal residence for a term of years. Remainder goes to family members. The grantor cannot be the holder of an interest in more than two such trusts at the same time. Tax consequences to grantor include the normal deductions relative to ownership of a personal residence such as ...

TN timeshare study guide latest 2023 rated A+ If there is a complaint against licensee, they must answer in how many days? 10 days If a customer sees a timeshare and buys it how long do they have to cancel the purchase? 10 days If the customer does not see the time share and buys it how long do they have to cancel the purchase? 15 days If customer cancels purchase how long does the developer have to refund all the monies? 30 days If a public offering statment is incomplete how long do you h...