Estate_11th_Ch_3_MC_Solutions.pdf - ESTATE PLANNING 11TH ED...

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ESTATE PLANNING, 11TH ED. C HAPTER 3 E ND OF C HAPTER M ULTIPLE C HOICE S OLUTIONS 1. The correct answer is d. Only answer d is a correct statement. Answer a is incorrect because a joint tenant in a JTWROS can transfer his interest during life, but at death the interest is automatically transferred to the surviving tenants. Answer b is incorrect because JTWROS is not the same as community property. Community property can only be entered into between married couples and does not provide an automatic right of survivorship. Answer c is incorrect because anyone can own property JTWROS, and at the death of one joint tenant, his interest will transfer automatically to the surviving joint tenants. 2. The correct answer is c. Of the property types listed, tenancy by the entirety is an ownership form exclusive to married couples. Ten- ants in common and JTWROS are available to anyone, including married couples. Tenants by marriage is not

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