Identify Which of the Following Statements Is True

question 97

Multiple Choice

Identify which of the following statements is true.

• A) The gift tax exclusion is available for a gift of a present or future interest.
• B) 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.
• 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.