A Bypass Trust Allows the Business Owner to Keep Life

question 69

True/False

A bypass trust allows the business owner to keep life insurance proceeds out of his/her estate as long as the owner doesn't die within three years of establishing the trust.

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Definitions:

Spongy Mesophyll

Layer of cells in a plant leaf's interior that aids in gas exchange and contains spaces between cells.

Gas Diffusion

The process by which gas molecules spread from areas of high concentration to areas of low concentration.

Photosynthesis

The process by which green plants, algae, and certain bacteria convert light energy, usually from the sun, into chemical energy stored in glucose.

Monocot Leaves

Leaves of monocotyledonous plants, typically characterized by parallel veins.