What is the benefit(s) of a living trust?
A) Keeps assets in the trust out of the gross estate.
B) Keeps assets in the trust out of the probate estate.
C) Maintains privacy for the beneficiaries.
D) Both (a) and (b) .
E) Both (b) and (c) .
Correct Answer:
Verified
Q21: Which of the following is a taxable
Q22: A fiduciary tax return is filed by
A)a
Q23: The gift tax
A)can apply to tuition paid
Q24: Which of the following gifts is not
Q27: Chloe gave $15,000 to her son,$20,000 to
Q28: Refer to the information in the preceding
Q30: The following transfer(s)is excluded from gift taxes:
A)John
Q31: The donor of a trust is the
Q31: The amount of the kiddie tax is
Q35: An income interest in a trust
A)must be
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