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Jose Set Up a Trust for His Two Married Daughters

question 96

Essay

Jose set up a trust for his two married daughters with $500,000 of stocks and bonds at the end of 2014.Jose can change the trust beneficiaries at any time,however.In 2015,each of the daughters receives $15,000 from the trust.What are Jose's gift tax consequences as a result of these events? Explain.


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Feeling

A subjective, emotional state or reaction that something is experienced through the senses or emotions.

Affiliative Humor

Affiliative humor is a type of humor that focuses on creating and reinforcing social bonds through jokes and funny stories that are agreeable to all parties involved.

Self-enhancing

The psychological process of focusing on one's positive qualities and achievements to maintain or increase self-esteem.

Aggressive

Behaving in a manner that can potentially harm others either verbally or physically.

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