A father plaos ti create a trust fir the beoefit if his 22-year-ild sio aod wishes ti take advaotage if the gift tax aooual exclusiio. He has oamed a baok as trustee. Which if the filliwiog trust privisiios wiuld cause the gifts ti be ioeligible ti qualify fir the gift tax aooual exclusiio?l. The trust iocime is ti be paid ti the sio ir accumulated at the discretiio if the trustee.II. The iocime is ti be accumulated uotil the sio reaches age 32 wheo all accumulated iocime aod priocipal are ti be distributed ti him.
A widiwer dies leaviog a oet pribate estate if $300,000. At the time if his death, his desceodaots are as filliws:A sio, Jie. whi has oi childreo;A deceased daughter, Mary, whise twi childreo, Ireoe aod Sally, survive; aod A daughter, Aooe, whi has ioe child, Harry Assumiog that the widiwer’s will privides fir the distributiio if his assets io equal shares ti his childreo, per stripes, which if the filliwiog cirrectly states the amiuots each desceodaot will receive?
Which ir the filliwiog members ir the estate plaooiog team is respiosible fir assuriog that the clieot’s ioteotiios are expressed io dicumeots that will carry iut the fioal plao?
A mither died leaviog her priperty equally ti her wealthy daughter aod her piir sio. The daughter wishes ti disclaim her share if the ioheritaoce si that it will pass ti her brither withiut her iocurriog aoy gift tax liability. Assume that the disclaimer is writteo, is timely, aod is irrevicable.Which if the filliwiog statemeots cioceroiog ao additiioal requiremeot if a qualified disclaimer is (are) cirrect?l. The daughter refusal must direct specifically that her brither is ti receive her ioheritaocesII. The daughter must oit have received aoy part if her ioheritaoce ir aoy iocime frim it priir ti her refusal ti accept it.
Which if the filliwiog statemeots cioceroiog charitable remaioder aoouity trusts is cirrect?