Module 10B: Introduction to Woodlot - Income Tax and Estate Planning

Results

This person got 6 of 9 possible points.
Total score: 67 %

Question Results

Score 1 of 1

Question:

Estate planning eliminates the need for a will.

Response:

True

False

Score 1 of 1

Question:

It is not important to include your spouse in the estate planning process as he/she will receive all assets under the Matrimonial Act.

Response:

True

False

Score 0 of 1

Question:

Passing away without a will is referred to as dying ______.  

Response:

in estate

in intestate

Score 0 of 1

Question:

The person who holds the trust is known as a _______.

Response:

trustee

beneficiary

settlor

Score 1 of 1

Question:

Income and capital from a spousal trust pass on to the spouse.

Response:

True

False

Score 1 of 1

Question:

On passing away, one is deemed to have disposed of all property.

Response:

True

False

Score 1 of 1

Question:

Costs of disposition, including legal fees, are taken away from the proceeds when calculating capital gains.

Response:

True

False

Score 0 of 1

Question:

A family member is considered to be dealing at arm’s length.

Response:

True

False

Score 1 of 1

Question:

Property that passes to your spouse or spousal trust, creates a tax-free transaction.

Response:

True

False