When the First Spouse Dies, Then Any Unused Applicable Exclusion

question 32

True/False

When the first spouse dies, then any unused applicable exclusion amount (AEA) is lost and cannot be used.

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Definitions:

Major Depressive Disorder

A mood disorder marked by feelings of great sadness, despair, and hopelessness as well as the loss of the ability to experience pleasure.

Schizophrenia

A mental disorder characterized by disturbances in thought, perception, and behavior, including delusions, hallucinations, and disorganized speech.

Panic Disorder

A type of anxiety disorder characterized by sudden and recurrent panic attacks that involve overwhelming fear and physical symptoms.

Social Phobia

A chronic mental health condition characterized by an intense fear of social situations, leading to avoidance and distress.