Which, If Any, of the Following Procedures Reduces Both Ned's

question 72

Multiple Choice

Which, if any, of the following procedures reduces both Ned's gross estate and probate estate?

• A)Ned purchased a CD listing title as "Ned, payable on proof of death to Eileen." Eileen is Ned's niece.
• B)Four years ago, Ned named his wife as the designated beneficiary of his IRA. (Previously, Ned's estate was the designated beneficiary.)
• C)Using her funds, Ned's wife purchased real estate listing herself and Ned as "tenants by the entirety with right of survivorship."
• D)Four years ago, Ned made a gift of an insurance policy on his life to his daughter (the designated beneficiary).
• E)None of the above.

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Definitions:

Socialization Practices

The methods and processes through which individuals learn and internalize the values, beliefs, and norms of their society or social group, shaping their behavior and thinking.

Mate Selection

The process by which individuals choose their partners, often based on a combination of personal preferences, social influences, and biological factors.

Financial Resources

Financial resources refer to the funds that are available to a person or organization for spending in the form of cash, liquid securities, and credit lines.

Evolutionary Theory

A theory in biology and psychology that explains the development of life and adaptive behaviors through natural selection and genetic variation.