Identify Which of the Following Statements Is True

question 17

Multiple Choice

Identify which of the following statements is true.

• A)The trustee of a Sec. 2503(c)trust must distribute all of the corpus and accumulated income when the beneficiary reaches the age of 25.
• B)The gift tax exclusion is available for a gift of a present or future interest.
• C)A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which assets are transferred to the trust.
• D)All of the above are true.

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Definitions:

Automated Vehicles

Vehicles equipped with technology that allows them to navigate and operate without human intervention.

Apple II

An early personal computer series introduced by Apple Computer in 1977 known for its significant impact on the microcomputer industry.

Personal Use

The utilization of software, hardware, or services for individual needs, as opposed to commercial or business use.

Microprocessor

A small-scale integrated circuit that carries out the tasks and functions of a computer’s CPU.