In 1985,Drew Creates a Trust with $1,000,000 of Securities

question 20

Multiple Choice

In 1985,Drew creates a trust with $1,000,000 of securities.Under the terms of the trust,Paula (Drew's wife) is granted a life estate with remainder to their children.Drew makes a QTIP election as to the trust.Drew dies in 1992 when the trust is worth $1,500,000,and Paula dies in 2009 when the trust is worth $2,000,000.Which,if any,of the following is a correct statement?

• A)The trust is included in Drew's gross estate when he dies in 1992.
• B)None of the trust is included in Paula's gross estate when she dies in 2009.
• C)Drew gets a marital deduction in 1985.
• D)Only $1,000,000 of the value of the trust is included in Paula's gross estate when she dies in 2009.
• E)None of the above.

Recognize the role of governments in promoting free trade and managing exchange rates.

Define and exemplify financial terms related to exchange rates and international finance.

Analyze the effects of currency fluctuations on international financial transactions.

Evaluate the role of trade theories in shaping international trade policies.

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