A Transfer in Trust in Which the Trustee Has the Power

question 11

True/False

A transfer in trust in which the trustee has the power to accumulate income is not a gift of a future interest if the trustee never exercises the power.

---

Definitions:

Surplus of Labor

A situation where the supply of labor exceeds the demand for it, often leading to unemployment or underemployment.

Minimum Wages

The lowest legal wage that can be paid to workers, set by government laws to protect employees from unduly low pay.

Structural Unemployment

A type of unemployment that results from a mismatch between the skills that workers offer and the skills demanded by employers.

Surplus of Labor

A situation in which the supply of labor exceeds the demand for labor, often resulting in unemployment or underemployment.