Will Jones Has Created a Will That Leaves Everything to His

question 86

Multiple Choice

Will Jones has created a will that leaves everything to his wife except an exemption amount of $3 million.This exemption amount passes into a trust.What type of will has Will created?

• A)Simple
• B)Traditional marital share
• C)Exemption trust
• D)Stated dollar amount
• E)Living

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Definitions:

Determination

The firmness of purpose or the process of establishing something exactly by calculation or research.

Goodness Of Fit

A statistical analysis to determine how well sample data fit a distribution from a population with a normal distribution.

Regression Equation

The equation that describes how the mean or expected value of the dependent variable is related to the independent variable; in simple linear regression, E(y) = b0 + b1x.

Estimated Income

The projection or approximation of income over a specified future period, often based on historical data and current trends.