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:

Prefrontal Cortex

The part of the brain located at the front of the frontal lobe, associated with decision making, problem-solving, control of purposeful behaviors, consciousness, and emotions.

Emotions

Complex reactions to internal or external events involving subjective feelings, physiological arousal, and observable behavior.

Motor Skills

The abilities required to control and coordinate the movements of the muscles in the body.

Passions

Intense emotions or desires that drive individuals to pursue specific interests or activities.