The Unified Credit Is Designed to Allow a Minimum Amount

question 8

True/False

The unified credit is designed to allow a minimum amount of lifetime transfers without triggering the imposition of a transfer tax.
The unified credit currently eliminates tax on cumulative transfers of $5.45 million ($10.9 million for married taxpayers in 2016).

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Definitions:

Rules of Evidence

The standards and criteria used to determine what information is admissible in a court of law.

Arbitrators

Individuals or panels that are appointed to resolve disputes between parties through an arbitration process, often as an alternative to litigation.

Mediators

Neutral third parties who assist in resolving disputes between two or more parties by facilitating negotiations.

Certified

Official recognition that an individual or entity has met a specified standard or qualification.