Which of the Following Statements Does Not Apply to a Revocable

question 46

Multiple Choice

Which of the following statements does not apply to a revocable trust?

• A)The grantor of the trust is taxed on trust income.
• B)The trust property is included in the grantor's gross estate.
• C)Revocable trusts are all simple trusts.
• D)The grantor makes a gift when the trust distributes trust income to a beneficiary.

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Definitions:

Free Association

A psychoanalytic technique in which patients are encouraged to verbalize all thoughts that come to mind without censorship or filtering.

Modeling Approach

A method or strategy used in various fields such as psychology, education, and computer science to represent, analyze, or predict complex real-world systems or behaviors.

Self-efficacy

A person's belief in their own competence and ability to accomplish tasks and achieve goals.

Internal Neurosis

Disorders involving emotional distress and thought patterns without a clear organic cause, often resulting in anxiety, depression, or obsessive behaviors.