A(n) ________ Is the Most Basic Type of Trust, Which

question 97

Multiple Choice

A(n) ________ is the most basic type of trust, which allows a business owner to put up to $1.3 million into trust, naming his spouse as the beneficiary upon his death. The spouse receives the income from the trust throughout her life, but the principal in the trust goes to the couple's heirs, free of estate taxes, upon the spouse's death.

• A) grantor-retained annuity trust
• B) family limited partnership
• C) bypass trust
• D) estate freeze

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Definitions:

Negotiator's Bottom Line

The least favorable terms a negotiator is willing to accept before walking away from a negotiation.

Personalized Concession

A compromise or adjustment offered in a negotiation that specifically addresses the interests or preferences of the other party.

Hardball Tactics

Aggressive or uncompromising strategies used in negotiations or competition, designed to pressure the opposite side into conceding or agreeing to specific terms.

Starting Points

The initial positions or conditions from which something begins or is derived, often used in the context of negotiations or discussions.