Answer the following statements true (T) or false (F)
1. Conservation easements are contracts which permanently restrict the future use and development of land and directly reduce the amount of taxes that are due by the decedent’s estate.
2. The amount that allows for exclusion of federal estate taxes for 2016, as provided from the American Taxpayer Relief Act of 2012 is $4.43 million.
3. The American Taxpayer Relief Act of 2012 allows for an estate to not to have to pay state estate taxes if under $5.43 million.
4. Portability allows a surviving spouse to use any unused portion of the deceased spouse’s exclusion amount, thus reducing his or her estate tax liability.
5. After the gross estate is calculated, cash can be deducted from the table estate, thus adjusting the gross taxable estate.
1. True
2. False
3. False
4. True
5. False
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A jury determines that Penny was 40 percent at fault, and Wendy 60 percent at fault, in causing the accident. Now assume Wendy is suing Penny in a jurisdiction that recognizes pure comparative negligence. How much can Wendy recover?
a. $10,000 because that is the amount of her damages. b. $6,000 because that is 60 percent of her damages. c. $4,000 because that is 40 percent of her damages. d. $0 because she is barred from recovery.
In a law office that has a network, everyone may have access to all the information on the network. If the firm's database is on the network, what, if anything, should be done to limit access? What levels of access should be set up and why?
What will be an ideal response?
In order for a case to be on point, three requirements must be met.
Answer the following statement true (T) or false (F)
Article 2A has been adopted by ______ states.
A. all B. some C. ten D. twenty-one