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:

Sickle Cell

A genetic blood disorder causing red blood cells to assume a sickle shape, leading to various health complications such as blockage of blood flow and anemia.

African American

A racial or ethnic group in the United States with ancestral ties to Africa, particularly Sub-Saharan Africa.

Genetic

Relating to the genes or heredity, and their role in determining the characteristics of organisms.

Uterus

The hollow organ within females in which the embryo and fetus develop.