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GiftLaw Pro Home   >  Chapter 4 - Specific Property Gifts  >  4.11 Savings Bonds  >  4.11.3 Transfers at Death  >  Basic Quiz

Basic Quiz - 4.11.3 Transfers at Death

1. If a decedent leaves Series EE savings bonds to his or her family at death, the family receives a step up in basis on the savings bonds.
           
2. If savings bonds contain a co-owner or death beneficiary, those designations take precedence over a will or trust.
           
3. Pension plans, savings bonds and commercial annuities are examples of IRD assets.
           
4. A bequest of Series EE savings bonds to charity produces no income or estate tax liability.
           
5. A donor may list charity as a death beneficiary on his or her savings bonds.
           
6. A donor may list charity as a co-owner on his or her savings bonds.
           
7. An excellent planning strategy is for a decedent to transfer Series EE savings bonds to a testamentary charitable remainder trust.
           
8. After funding a testamentary charitable remainder trust with Series EE savings bonds, it is likely that the income beneficiary will receive mostly tax-free income from the trust.
           
9. The term "final maturity" refers to the death of a taxpayer.
           
10. An executor or beneficiary redeems Series EE savings bonds through the Internal Revenue Service.