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Titus and Cam (both males) have been involved in an intimate relationship for the past 25 years. Titus’s family is quite wealthy and has provided Titus with every “extra” in life. Unfortunately, Titus’s family does not approve of Titus’s relationship with Cam. Titus was diagnosed with cancer last year and given only 12-15 months to live. Titus plans to leave the substantial wealth he has inherited over the years to Cam. After a few too many glasses of wine last Christmas, Titus’s mother proclaimed, “Titus, I hope you have a great estate planning attorney, because I will spend every penny I have to keep Cam from inheriting a dime from you!” In a fit of rage, Titus has come to you, an estate planning attorney, and asks you to recommend ways he can ensure that Cam will receive his assets. Which of the following would you be least likely to recommend to Titus to meet his objectives?

Which of the following items is includible in a person’s probate estate?

Sherri purchased a home many years ago for $40,000. She married Gary five years ago when the house was worth $150,000. Sherri and Gary live in a community property state. Assume Sherri died today and gave her interest in the property to her son Casey. The property is currently valued at $200,000. What is Gary’s basis in the home after Sherri’s death?

Dawson recently prepared a last will and testament in which he left all of his assets to his girlfriend, Jen. Dawson and Jen broke up last night and now Dawson wants to leave all of his worldly possessions to his best friend, Joey. What can Dawson do to prevent Jen from receiving any of his assets?

Greer died recently leaving all her assets in a trust for her spouse, Skyler. Greer was concerned that Skyler would not be able to manage the money adequately to maintain the same standard of living for the rest of Skyler’s life. Therefore, she placed the assets into a spendthrift trust and gave Skyler the right to receive a certain amount of income each year. Greer appointed her good friend, Paul, to be the trustee of the trust. How is Skyler’s ownership classified?

You are opening a new professional practice and you would like to put together a team of experts to help your clients with estate planning. Which of the following groups represents the best team to help your clients?

Which of the following best describes those who need estate planning?

Piper’s will leaves all of her property to her husband, Alex. If he does not survive her by more than eight months, the property will transfer to Piper’s only daughter, Lorna. Piper dies on May 1 and Alex dies on the following December 1. Of the following statements, which is correct?

Which of the following documents empowers an administrator to act as the agent of a probate court?