A Will in Which Everything Passes to the Spouse Except

question 121

True/False

A will in which everything passes to the spouse except the exemption amount is called the exemption trust will.

---

Definitions:

Credit Memo

A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice.

NSF Checks

Checks that are not honored by the bank due to insufficient funds in the account of the drawer.

Bank Service Charges

Fees charged by banks for account maintenance, transactions, and other financial services.

Outstanding Checks

Checks that have been written and recorded in the checking account ledger but have not yet been cashed or cleared by the bank.