Identify Which of the Following Statements Is False

question 37

Multiple Choice

Identify which of the following statements is false.

• A)For purposes of trust administration, the term "sprinkling" relates to the discretionary authority of the trustee to distribute income among various beneficiaries.
• B)The IRS may terminate an estate as a taxpayer after the expiration of a reasonable period of time for performance of the administrative duties.
• C)Assets in a revocable trust do not avoid probate.
• D)Assets in a revocable trust are included in the gross estate.

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Definitions:

Speed Things Up

To cause or hasten a process, action, or series of events, making them occur more quickly than usual.

Support Group

An assembly of individuals who share common experiences or concerns, providing each other with encouragement, comfort, and advice.

Schizophrenia

A persistent and intense mental illness marked by altered cognition, emotions, perception, communication, self-identity, and actions.

Grieving

The emotional and psychological process of coping with loss, particularly that of a loved one, involving various stages of emotion.