Which of the Following Are Characteristics of a QTIP Trust

question 24

Multiple Choice

Which of the following are characteristics of a QTIP trust?

• A) The trust agreement, and not the surviving spouse, controls the distribution of the trust assets
• B) Assets transferred into the trust qualify for the marital deduction, if spouse receives income from trust at least annually
• C) If assets qualify for marital deduction, then they must be included in the estate of the surviving spouse
• D) A and B
• E) A, B, and C

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Definitions:

Infants

Very young children or babies, typically those under one year of age.

Sex Chromosome

The chromosome involved in determining the genetic sex of an organism, typically one of two kinds: X or Y in many species including humans.

Chromosomal Abnormality

A genetic condition that results from an alteration in the number or structural arrangement of chromosomes.

Differentiate

To recognize or ascertain what makes (someone or something) different.