In 2010, Drew Creates an Irrevocable Trust with $1,000,000 of Securities

question 53

Multiple Choice

In 2010, Drew creates an irrevocable trust with $1,000,000 of securities. Under the terms of the trust, Paula (Drew's wife) is granted a life estate with remainder to their children. Drew makes a QTIP election as to the trust. Drew dies in 2012 when the trust is worth $1,500,000, and Paula dies in 2020 when the trust is worth $2,000,000. Which, if any, of the following is a correct statement?

• A) The trust is included in Drew's gross estate when he dies in 2012.
• B) None of the trust is included in Paula's gross estate when she dies in 2020.
• C) Drew does not get a marital deduction in 2010.
• D) All of the value of the trust ($2,000,000) is included in Paula's gross estate when she dies in 2020.

Identify strategies for improving memory performance through attention, deep processing, elaboration, and mental imagery.

Understand the concept of the connectionist process in relation to memory formation.

Explain Baddeley's model of working memory and its components.

Define and distinguish between proactive and retroactive interference.

---

Definitions:

Structured Interview

An interview method where each interviewee is asked the same set of predetermined questions in a specific order.

Observer Drift

A phenomenon where there is a gradual shift or deviation in the way observers record or interpret information over time.

External Locus of Control

A belief system where individuals think that external forces or events are responsible for their life outcomes.

Reciprocal Determinism

A concept in social cognitive theory that suggests individual behavior, environmental factors, and personal cognitive factors influence each other in a bidirectional manner.