Identify Which of the Following Statements Is True

question 74

Multiple Choice

Identify which of the following statements is true.

• A)When making a QTIP transfer, the donor does not control who will receive the property on the death of the donee-spouse.
• B)The marital deduction is limited to the amount of the gift that exceeds the annual exclusion.
• C)Claiming the marital deduction on a QTIP transfer is mandatory.
• D)Terminal interests cannot be eligible for the marital deduction.

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Definitions:

Negligence

Not acting with the caution a reasonably careful person would use in similar situations.

Defence

Defence refers to the argument or strategy used by an individual or party to oppose or fight against a claim or accusation in legal proceedings.

Standard of Care

The degree of prudence and caution required of an individual who is under a duty of care.

Federal Statute

A law enacted by the national government of a federal system that applies throughout the country and supersedes state laws in areas of federal competence.