Identify Which of the Following Statements Is False

question 92

Multiple Choice

Identify which of the following statements is false.

• A)If an individual transfers property in trust and reserves the right to the trust's income for life, the individual retains a life estate.
• B)An individual who receives a remainder interest will receive property after the death of the holder of a life estate.
• C)If a grantor transfers property in trust and names a beneficiary to receive only a term-certain interest and then the property is to return to the grantor, the transaction is not subject to gift tax.
• D)Life estates are valued using actuarial tables.

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Definitions:

Prejudices

Biased opinions or feelings against an individual or group without sufficient justification.

Communicative Problems

Difficulties or barriers encountered during the exchange of information between individuals.

Ethnicity

A category of people who identify with each other based on common ancestral, social, cultural or national experiences.

Diversity

The state of being diverse; variety, especially in the context of people with different backgrounds, cultures, or demographics.