Bev Owns Approximately $13 Million of Assets Primarily Composed of a Very

question 48

True/False

Bev owns approximately $13 million of assets primarily composed of a very valuable parcel of real estate and a savings account of $500,000.Bev has four grandchildren and is planning to give them each an annual gift in equal amounts.Bev can gift $100,000 in total in 2019 to her grandchildren without creating taxable gifts.

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Definitions:

Pretend

To act as if something is true when it is not, often as a form of play.

Object Permanence

The understanding that objects continue to exist even when they cannot be observed.

Scheme

A plan or strategy designed with a specific aim or outcome in mind, often outlining steps or methods to achieve it.

Violation of Expectations

A method used in developmental psychology to study infants' understanding of the world by gauging their reactions to events that deviate from what they anticipate.