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:

Financial Plan

A comprehensive evaluation of an individual's or organization's current and future financial state by using current known variables.

Stretch Goals

Highly ambitious or challenging targets set beyond current expectations and capabilities to push performance and drive significant achievements.

Aggressive Optimism

A mindset or attitude where an individual or organization has high expectations and confidence, often pushing boundaries and taking bold actions.

External Funding

Financial support that comes from outside an organization, including loans, grants, investments, and other forms of financing.