1
Q
Intestate
A
Died w/ no will
2
Q
Ascertainable Standard
A
Allows you to get to the corpus = principle
*but you need approval
Grantor - Specify = HEMS
2
Q
Estate Valuation Issues
A
Corporate and Partnership Recap
lowers value of business in the estate via recap or by gifting closely-held stock
3
Q
Key Person Discounts
A
A discount may be allowed for a business that lost a key employee who was responsible for its goodwill or administrative and management skills
4
Q
Income in Respect of a Decedent
A
- Decedent has the right to review but hasn’t received it yet
- Pay attention to who the Bene is
Custom CFP notecards
flashcards
Decks in class (6)
# Cards
