Identify Which of the Following Statements Is False

question 61

Multiple Choice

Identify which of the following statements is false.

• A) A gift occurs when a revocable trust is funded.
• B) A transfer is incomplete (and not subject to the gift tax) if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
• C) A gift does not occur until the transfer is complete.
• D) Transfers to an irrevocable trust can be deemed incomplete.

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