Identify Which of the Following Statements Is True

question 22

Multiple Choice

Identify which of the following statements is true.

• A) Terminal interests cannot be eligible for the marital deduction.
• B) Claiming the marital deduction on a QTIP transfer is mandatory.
• C) When making a QTIP transfer, the donor does not control who will receive the property on the death of the donee- spouse.
• D) The marital deduction is limited to the amount of the gift that exceeds the annual exclusion.

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Definitions:

Boundary Lines

The defined borders that mark the edges of a property or jurisdiction.

Physical Improvements

Refers to enhancements or modifications made to a property or asset that increase its value or utility.

Insurance Law

A branch of law that deals with the regulation of insurance policies and claims.

Premium

The amount paid for insurance coverage or an additional cost for higher-quality services or products.