67. To be valid, a will must:

Multiple Choice

• be notarized.

• be recorded in a court of law.

• be signed in the presence of two witnesses.

• be orally stated in front of two witnesses.

• not name an executor as the court will appoint one.

69.

A federal tax levied on the value of the inheritance of a deceased person to transmit his or her property and life insurance at death is called a(n) ____________ tax.

Multiple Choice

• estate income

• trust income

• inheritance

• gift

• estate

71. Which is true of estate planning?

Multiple Choice

• It includes handling your property while you are alive

• It includes dealing with what happens to your property after your death

• It is part of retirement planning

• It is part of financial planning

• All of these