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 obtain a life insurance policy and name his domestic partner as the beneficiary. B)He should title his real property as tenants in common with his domestic partner. C)He should fully fund a revocable living trust that designates his domestic partner as the beneficiary. D)He should make lifetime gifts in the amount of the annual exclusion to avoid gift tax and preserve his estate tax exclusion amount.

icon
Related questions
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 obtain a life insurance policy and name his domestic partner as the beneficiary.
 
B)He should title his real property as tenants in common with his domestic partner.
 
C)He should fully fund a revocable living trust that designates his domestic partner as the beneficiary.
 
D)He should make lifetime gifts in the amount of the annual exclusion to avoid gift tax and preserve his estate tax exclusion amount.
Expert Solution
Step 1

C)He should fully fund a revocable living trust that designates his domestic partner as the beneficiary.

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer