A trust that is created upon the death of an individual, and which is taxed applying the full range of tax rates within the individual's progressive scale is a(n):
A) Inter vivos trust
B) Graduated rate estate trust
C) Unit investment trust
D) Investment trust

Question

Quizplus · Accepted Answer

A Graduated Rate Estate (GRE) trust is created upon the death of an individual and is taxed using the individual's progressive tax rates.

A Trust That Is Created Upon the Death of an Individual