On March 1, Bart Transfers Ownership of a $700,000 Life

question 50

Multiple Choice

On March 1, Bart transfers ownership of a $700,000 life insurance policy on his life that he purchased in 2019. How long must Bart live to avoid inclusion of the $700,000 death benefit in his estate?

• A)six months
• B)one year
• C)three years
• D)No minimum time period exists.

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Definitions:

Combining Forms

In medical terminology, the word root with a combining form vowel (usually an “o”) that aids in making the word pronounceable, particularly when adding a suffix that begins with a consonant.

Singular

Unique or existing as the only one; often used to describe something that is remarkable.

Plural

The form of a word that is used to denote more than one.

Cardiomyopathy

A group of diseases that affect the heart muscle, often leading to heart failure and other complications.