Identify Which of the Following Statements Is False

question 54

Multiple Choice

Identify which of the following statements is false.

• A)A gift occurs when a revocable trust is funded.
• B)A gift does not occur until the transfer is complete.
• C)A transfer is incomplete (and not subject to the gift tax)if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
• D)Transfers to an irrevocable trust can be deemed incomplete.

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