Identify Which of the Following Statements Is False

question 54

Multiple Choice

Identify which of the following statements is false.

• A)A gift occurs when a revocable trust is funded.
• B)A gift does not occur until the transfer is complete.
• C)A transfer is incomplete (and not subject to the gift tax)if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
• D)Transfers to an irrevocable trust can be deemed incomplete.

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Definitions:

Hippocrates

An ancient Greek physician often referred to as the "Father of Medicine," known for his contributions to the understanding of disease and medical ethics.

Empirical Evidence

Information acquired by observation or experimentation that is used as the basis for testing hypotheses and building knowledge.

Contemporary Psychologists

Psychologists who are currently active or have contributed to the field in recent times, focusing on modern theories, practices, and research.

Phrenology

An outdated and discredited theory that suggested the shape and size of the skull could determine a person's personality and mental abilities.