Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) A gift occurs when a revocable trust is funded.
B) A transfer is incomplete (and not subject to the gift tax) if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
C) A gift does not occur until the transfer is complete.
D) Transfers to an irrevocable trust can be deemed incomplete.

Correct Answer:

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