To Avoid the Terminable Interest Limitation on the Marital Deduction

question 161

True/False

To avoid the terminable interest limitation on the marital deduction, the surviving spouse must be granted a general power of appointment over the trust property, or a QTIP election must be made.

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Definitions:

Intangibility

Intangibility refers to the characteristic of services that cannot be seen, touched, or physically measured, making them difficult to evaluate before purchase.

Spa Amenities

Features and services provided by a spa, such as massages, facials, and body treatments, aimed at enhancing the guest's relaxation and well-being.

Gross Domestic Product

The total value of all goods and services produced within a country's borders in a specific time period, serving as a measure of economic performance.

Proportion

The relationship between parts and the whole, often expressed as a ratio or fraction, indicating the relative size or importance of elements within a context.