In 2017, Paul Transfers $1,000,000 to a Trust Benefiting His

question 94

Multiple Choice

In 2017, Paul transfers $1,000,000 to a trust benefiting his three children. As trustee, he has the power to determine the amount of distributions each year. Paul dies in the current year when the trust has a value of $1,200,000. How much of the trust's value is included in Paul's estate?

• A) $1,000,000
• B) $400,000
• C) $0
• D) $1,200,000

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Definitions:

Elementary School

Educational institution for children that typically covers kindergarten through fifth or sixth grade, focusing on basic academic learning and social skills.

Female Authority

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A pleasurable activity that is engaged in for its own sake.

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