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Free HS-330 Exam Braindumps
HS-330 Fundamentals of Estate Planning Test Questions 131–135 (page: 28)

Updated On: 9-Feb-2026
Page 28 of 81
PDF with 400 Questions

All the following statements concerning qualification of property for the federal estate tax marital deduction are correct EXCEPT:

  1. The property interest passing to the surviving spouse must be includible in the decedent's gross estate.
  2. The property received by a surviving spouse after a successful will contest fails to qualify.
  3. The property interest must be includible in the surviving spouse's estate at death unless consumed or given away.
  4. The surviving spouse must receive the property as the beneficial owner rather than as a trustee for someone else.

Answer(s): B



A widower dies leaving a net probate estate of $300,000. At the time of his death, his descendants are as follows:

A son, Joe, who has no children;
A deceased daughter, Mary, whose two children, Irene and Sally, survive; and A daughter, Anne, who has one child, Harry

Assuming that the widower's will provides for the distribution of his assets in equal shares to his children, per stirpes, which of the following correctly states the amounts each descendant will receive?

  1. $60,000 to Joe, $60,000 to Irene, $60,000 to Sally, $60,000 to Anne, and $60,000 to Harry
  2. $75,000 to Joe, $75,000 to Irene, $75,000 to Sally, and $75,000 to Anne
  3. $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, and $100,000 to Anne
  4. $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, $50,000 to Anne, and $50,000 to Harry

Answer(s): C



Which of the following statements concerning guardians is (are) correct?
1. A guardian is appointed by a court.
2. A guardian holds equitable title to the property he administers for his or her ward.

  1. Both 1 and 2
  2. 2 only
  3. Neither 1 nor 2
  4. 1 only

Answer(s): D



All the following statements concerning the ownership of real property as joint tenants with right of survivorship are correct EXCEPT:

  1. If the joint tenants are husband and wife, because this is a qualified joint interest, one half the value of the property will be in the estate of the first spouse to die regardless of which spouse contributed to the purchase price.
  2. If three sisters inherited property as joint tenants with right of survivorship, the entire value of the property will be in the estate of the first sister to die.
  3. If the joint tenants are brother and sister, no portion of the value of the property will be in the sister's estate if she dies first provided her executor proves that the brother contributed all the funds.
  4. If the joint tenants are two brothers and each contributed one half the property's purchase price, only one half the property's value will be in the estate of the first brother to die if his executor proves that the other brother contributed half of the purchase price.

Answer(s): B



All the following statements concerning property ownership by a married couple residing in a community-property state are correct EXCEPT:

  1. Income earned by one spouse becomes community property.
  2. Property inherited during the marriage is the separate property of the spouse who inherited it.
  3. All property that is not separate property is community property.
  4. Community property loses its identity when a community-property couple moves to a common law state.

Answer(s): D



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