Which of the following statements concerning both the joint tenancy with right of survivorship and the tenancy by the entirety forms of real property ownership is correct?

A. Both forms of ownership are restricted to two equal owners at any one time.

B. Both forms of ownership provide that an owner can sell his interest in the property at any time without destroying the form of ownership.

C. Both forms of ownership provide that a deceased owner's interest passes to the surviving owner.

D. Both forms of ownership are restricted to husband and wife.

Which of the following statements concerning the imposition of state death taxes on property owned by a decedent is (are) correct?

1.

Real estate must be taxed in the state where the decedent was domiciled.

2.

Intangible personal property is generally taxed in the state where the decedent was domiciled.

A. 2 only

B. 1 only

C. Neither 1 nor 2

D. Both 1 and 2

All the following powers held by the grantor of an irrevocable trust will cause the trust assets to be brought back into the estate of the grantor EXCEPT the power to

A. terminate the trust

B. add principal to the trust

C. designate who shall enjoy the trust income

D. change the trust remainderpersons

A father died leaving his property equally to his wealthy son and his poor daughter. The son wishes to disclaim his share of the inheritance so that it will pass to his sister without his incurring any gift tax liability. In this situation, all the following acts on the part of the son are required EXCEPT:

A. His refusal to accept the inheritance must be received by the executor of his father's estate within 9 months of his father's death.

B. His refusal to accept the inheritance must direct specifically that his sister is to receive it instead.

C. His refusal to accept the inheritance must be in writing.

D. He must not have received any part of his inheritance or any income from it prior to his refusal to accept it.

The decedent, D, died this year. The facts concerning D estate are:

-Gross estate $3,400,000

-Marital deduction 0

-Charitable deduction 600,000

-Funeral and administration expenses 80,000

-Gifts made after 1976 170,000

-

State death taxes payable 192,000

A.

$2,720,000

B.

$2,358,000

C.

$2,138,000

D.

$2,528,000