Identify Which of the Following Statements Is False

question 68

Multiple Choice

Identify which of the following statements is false.

• A)Every grantor is entitled to a $5.25 million exemption from the GSTT in 2011.
• B)If Greg transfers assets directly to his grandson, this transaction would be an example of a direct skip.
• C)If Shaad transfers property in trust to his son, with the remainder to his grandson, at the death of the son a taxable termination will result.
• D)The GSTT is levied at a flat rate, which is higher than the top rate under the estate tax rate schedule.

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Definitions:

Christopher Wren

A prominent 17th-century English architect, known for his role in reconstructing London after the Great Fire, including his design of St. Paul's Cathedral.

Professor of Astronomy

An academic title for a person who teaches and conducts research in the field of astronomy, focusing on the study of celestial bodies and the universe.

London

The capital city of the United Kingdom, known for its rich history, cultural diversity, and significant contributions to arts and sciences.

Dutch Middle-Class

A social class in the Netherlands that emerged in the 17th century, characterized by their significant role in commerce and urban life.