Paul would like to transfer a substantial portion of his net worth to his son, chad. paul believes that the assets will appreciate in value before his death, but paul does not need any of the assets to sustain his current standard of living. however, paul is concerned about chad’s ability to manage the assets and is afraid chad may squander the assets. of the following transfers, which would ensure that the assets are excluded from paul’s gross estate and could also ensure that chad cannot squander the assets?

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.