Question

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.

Answer 1

a. exemption trust will.

Step-by-step explanation:

Answer 2

a. exemption trust will.

Step-by-step explanation:

An exemption trust will is one in which everything passes on to the spouse of the deceased except the stated amount which is tax-exempted. Candice passes on everything to her spouse, save for the amount set up in the trust. It is not a simple will since she does not leave everything to her spouse. It is also not a traditional marital share will, since what she leaves to her spouse is not exactly half. The will is also not a stated amount will since the only stipulated amount is the one to be set up with the trust.