Burt and Lisa Are Married and Live in a Common

question 56

Multiple Choice

Burt and Lisa are married and live in a common law state.Burt wants to make gifts to their five children in 2011.What is the maximum amount of the annual exclusion they will be allowed for these gifts?

• A) $0.
• B) $13,000.
• C) $26,000.
• D) $65,000.
• E) $130,000.

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Definitions:

Priming

A psychological effect in which exposure to a stimulus influences a response to a subsequent stimulus, without conscious guidance or intention.

Insight

The capacity to gain an accurate and deep intuitive understanding of a person or thing, often leading to a sudden realization.

Availability Heuristic

A cognitive shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Representativeness Heuristic

Assumption that any object (or person) sharing characteristics with the members of a particular category is also a member of that category.