Fte Following Statements About "Qualified Terminable Interest Property" (QTIP) Trusts

question 25

Multiple Choice

fte following statements about "Qualified Terminable Interest Property" (QTIP) trusts are true, except:

• A) fte QTIP trust is a "simple" trust and anyone, including a charity, may be the remainderman.
• B) A QTIP trust may not be implemented prior to the grantor's death.
• C) Only the grantor's spouse may be the income beneficiary, but may refuse to accept the bequest and elect against the will.
• D) If a trust otherwise qualifies, QTIP treatment may be elected for an undivided portion of the trust, such as 78 percent.

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