Jose set up a trust for his two married daughters with $500,000 of stocks and bonds at the end of 2016. Jose can change the trust beneficiaries at any time, however. In 2017, each of the daughters receives $15,000 from the trust. What are Jose's gift tax consequences as a result of these events? Explain.

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The Answer of Jose set up a trust for his two married daughters with $500,000 of stocks and bonds at the end of 2016. Jose can change the trust beneficiaries at any time, however. In 2017, each of the daughters receives $15,000 from the trust. What are Jose's gift tax consequences as a result of these events? Explain.

Jose Set Up a Trust for His Two Married Daughters