Question #44 of 85 Question ID: 1251825 Which of the following are correct statements regarding a payable on death (POD) account used as a will substitute? Use of a POD designation is a completed gift, but is entitled to an annual exclusion for each named beneficiary. The named beneficiary can transfer up to one-half of the assets in the account. The account assets will be included in the account owner's gross estate. The account assets will be transferred outside of probate. A) III and IV B) I, III, and IV C) II only D) I and III

Question #44 of 85 Question ID: 1251825 Which of the following are correct statements regarding a payable on death (POD) account used as a will substitute? Use of a POD designation is a completed gift, but is entitled to an annual exclusion for each named beneficiary. The named beneficiary can transfer up to one-half of the assets in the account. The account assets will be included in the account owner's gross estate. The account assets will be transferred outside of probate. A) III and IV B) I, III, and IV C) II only D) I and III

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter9: Specialized Trusts

Section: Chapter Questions

Problem 1CTD

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Question #44 of 85

Question ID: 1251825

Which of the following are correct statements regarding a payable on death (POD) account used as a will substitute?

Use of a POD designation is a completed gift, but is entitled to an annual exclusion for each named beneficiary.
The named beneficiary can transfer up to one-half of the assets in the account.
The account assets will be included in the account owner's gross estate.
The account assets will be transferred outside of probate.

III and IV

I, III, and IV

II only

I and III

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