Which of the following statements concerning advance medical…

Which of the following statements concerning advance medical directives is (are) correct? (1) A living will, like other testamentary documents, becomes effective only after a person has died. (2) A durable power of attorney for health care (or medical power of attorney) allows one person to make decisions for another when the principal is incapacitated.

Use of an Irrevocable Life Insurance Trust can accomplish wh…

Use of an Irrevocable Life Insurance Trust can accomplish which of the following? Make proceeds available to the surviving spouse. Ensure that proceeds will be excluded from the probate of both spouses. Shelters cash contributed for premiums from taxation up to the annual exclusion amount.

For a CFP who is not a licensed attorney, which of the follo…

For a CFP who is not a licensed attorney, which of the following activities would be considered the unauthorized practice of law? Preparing a last will and testament for their first client. Helping clients to identify their financial planning goals. Preparing financial statements for prospective clients. Referring clients to their brother, Jack, who happens to be a licensed attorney.