After a Prolonged Illness, Avery Has Been Diagnosed as Having

question 132

Multiple Choice

After a prolonged illness, Avery has been diagnosed as having a terminal illness. Which of the following procedures best improves her Federal gift and estate tax situation?

• A) She issues large notes made payable to loved ones to increase her future § 2053 deductions for claims against the estate.
• B) She makes gifts of her life insurance.
• C) She makes enough taxable gifts to keep from losing any of her $5 million gift tax exemption equivalent.
• D) She makes a donation of cash to the building fund of her church.
• E) None of the above.

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Definitions:

Whirlwind Romance

A relationship that develops very quickly, often characterized by intense and passionate emotions in a short period of time.

Sternberg's Triangular Theory

A theory which suggests that love is composed of three interrelated components: intimacy, passion, and commitment, each playing a role in different types of love.

Fatuous Love

A type of love characterized by passion and commitment but lacking in intimacy, often short-lived and not deeply rooted.

Closeness

The feeling of emotional intimacy and connection with someone, manifesting in strong bonds and relationships.