Identify Which of the Following Statements Is True

question 17

Multiple Choice

Identify which of the following statements is true.

• A)The trustee of a Sec. 2503(c)trust must distribute all of the corpus and accumulated income when the beneficiary reaches the age of 25.
• B)The gift tax exclusion is available for a gift of a present or future interest.
• C)A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which assets are transferred to the trust.
• D)All of the above are true.

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Definitions:

Performance

The act of carrying out or accomplishing a task or function, often evaluated against pre-established criteria or objectives.

Effort

The amount of physical or mental energy put into a task or activity to achieve a desired outcome or result.

Cultural Emphasis

The prioritization and special focus on certain cultural values, norms, and practices within a society or organization.

Internal Attribution

The process of explaining one's own behavior and the behavior of others based on internal characteristics, such as personality traits, beliefs, or motives.