Which of the Following Is Not a Characteristic of a §

question 15

Multiple Choice

Which of the following is not a characteristic of a § 2503(c) trust?

• A)A transfer into a § 2503(c) trust will be considered a gift of a current interest in the transferred property, eligible for the annual gift tax exclusion.
• B)Income from the trust may be expended for the benefit of any beneficiary under the age of 21.
• C)If an income beneficiary dies before reaching the age of 21, his or her share of trust assets reverts to the donor.
• D)Income accumulated in the trust for an income beneficiary under the age of 21 will be taxed at the beneficiary's rates.

---

Definitions:

Applied Work

Practical activities grounded in theory and aimed at solving real-world problems or improving conditions in specific areas.

Scientific Solutions

Approaches or answers to problems that are based on scientific methods, including observation, experimentation, and analysis.

American Psychology

A branch of psychology rooted in the United States that encompasses various theories, practices, and studies unique to the American context.

Cross-Cultural Generalizability

The extent to which research findings and theoretical conclusions from one cultural context hold true across different cultural contexts.