Identify which of the following statements is true.

A. The trustee of a Sec. 2503(c) trust must distribute all of the corpus and accumulated income when the beneficiary reaches the age of 25.
B. A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which assets are transferred to the trust.
C. The gift tax exclusion is available for a gift of a present or future interest.
D. All of the above are true.


Answer: B

Business

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Wrongfully Dishonored Checks. Robert Parrett was the principal shareholder, president, and chief operating officer of P & P Machinery, Inc, a farm machinery business located in Nebraska. On March 1, 1984, Parrett signed and delivered a check from P & P

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The first attribute of a subtype object is the childID attribute

Indicate whether the statement is true or false

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