Gifts Between Spouses Are Generally Exempt from Transfer Taxes

question 16

True/False

Gifts between spouses are generally exempt from transfer taxes.

---

Definitions:

Medical Researcher

refers to a professional engaged in conducting studies aimed at improving knowledge of diseases, developing medical treatments, or furthering health sciences.

Invention

The act of creating something new or a novel solution to a problem through innovative thinking.

Prospects

Potential or likely customers, clients, or users of a service or product, or the possibility of future success.

Ethnic Groups

Communities or populations sharing common cultural traditions, ancestry, language, or history.