Candice Is Updating Her Estate Planning and Wants to Write

question 69

Multiple Choice

Candice is updating her estate planning and wants to write a legal document that will allow all of her assets to go to her spouse except for a certain amount that will be set up in a trust. The trust (plus interest) can provide her spouse lifelong income that will not be taxed. She is writing a(n)

• A) Exemption trust will.
• B) Guardian will.
• C) Simple will.
• D) Stated amount will.
• E) Traditional marital share will.

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Definitions:

Dance Party

A social gathering where individuals come together to dance, enjoy music, and often, celebrate an occasion or simply for enjoyment.

Bystander Intervention Effect

The phenomenon where the presence of others can influence an individual's likelihood to help a person in distress, often reducing the likelihood of intervention.

Risky-Shift

Refers to the phenomenon where groups tend to make riskier decisions together than individuals would on their own.

Group Polarization

The inclination of a collective to reach decisions that are significantly more radical than the initial tendencies of the individual members.