Reyes Contributed Assets to a Trust and Designated Daughter Maria

question 65

True/False

Reyes contributed assets to a trust and designated daughter Maria as the income beneficiary and grandson Julio as the remainder beneficiary. This year, fiduciary accounting income was $50,000. The trustee paid $5,000 of this amount as premiums for a life insurance policy on Anita, Reyes's wife. Reyes pays Federal income tax on $5,000 for the year.

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Definitions:

Positive Buffer

Positive buffer is a technique used in communication to soften the impact of negative news or feedback with preceding positive statements.

Acknowledges Receipt

The confirmation of having received something, such as a document, message, or goods.

Indirect Claim Message

An indirect claim message is a communication method where the writer first presents reason and explanation before stating a complaint or request, aiming to minimize potential conflict or opposition.

Positive Relationship

A connection or interaction characterized by mutual respect, cooperation, and beneficial outcomes for all involved parties.