Classify Each Statement Appearing Below

question 140

Short Answer

Classify each statement appearing below.
a. No taxable transfer occurs
b. Gift tax applies
c. Estate tax applies
-Darlene holds a general power of appointment over the income from a trust created by her brother. Darlene dies during the year without having exercised the power. The income is distributed to children of the brother in accordance with the terms of the trust instrument.

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Definitions:

Bowed Upper Coupler

A condition in semi-trailers where the front upper plate, which connects to the tractor, is bent or curved, potentially affecting connection and safety.

High Hitch

A potentially dangerous tractor-to-trailer coupling condition in which the fifth wheel locking mechanism engages but the trailer kingpin sits on top of the jaws.

Aggressive Coupling

A connection strategy between two components designed to engage firmly and rapidly, often leading to higher wear and tear.

Pintle Hooks

A type of tow hitch that uses a pin and hook mechanism to connect trailers to towing vehicles, often used for heavy or industrial towing.