Which of the Following Statements Is False with Regard to Spousal

question 6

Multiple Choice

Which of the following statements is false with regard to spousal trusts?

• A)Property is deemed to have been sold at its cost amount when transferred to the trust.
• B)The trust property is deemed to be sold at market value upon the death of the beneficiary (the spouse).
• C)Both the spouse and any adult children may receive the capital of the trust prior to the spouse's death.
• D)The 21-year rule is waived for the trust's first 21-year anniversary.

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Definitions:

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Price Searcher

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