An unmarried cohabitant has the following goals: (1) to leave all of his property to his domestic
Question:
An unmarried cohabitant has the following goals:
(1) to leave all of his property to his domestic partner at his death, and
(2) to avoid probate. He currently does not have a will, but recognizes that he needs an estate plan.
Which of the following techniques will satisfy his goals?
A) He should title his real property as tenants in common with his domestic partner.
B) He should make lifetime gifts in the amount of the annual exclusion to avoid gift tax and preserve his estate tax exclusion amount.
C) He should obtain a life insurance policy and name his domestic partner as the beneficiary.
D) He should fully fund a revocable living trust that designates his domestic partner as the beneficiary.
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts