Before moving on, respond to the following question by selecting the best answer:

5. Which of the following best describes your assessment of the Stevens' choice of a simple will? Answer this question based only on the facts presented here and only from the perspective of its federal estate tax consequences.
   1. It is an excellent will. By employing the marital deduction, the will permanently avoids estate taxation on John's property. There is no better way to achieve this than a simple will.
   2. It is a very good will. By employing the marital deduction, the couple defers taxation of the first spouse's property until the death of the surviving spouse, and there is no other type of will that could do better.
   3. It is an acceptable will. By employing the marital deduction, the couple defers taxation of the first spouse's property until the death of the surviving spouse, but there are other types of will employing trusts, that could reduce the first spouse's estate and therefore reduce the surviving spouse's estate liability.
   4. It is a poor will. By employing the marital deduction, the will exposes them to more estate taxes than if there were no will at all. With a large estate, it is better to have no will than a simple will.

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