Multiple Choice
If a trust qualifies as a spousal trust,which of the following is FALSE?
A) Property is deemed to have been sold at its cost amount when transferred to the trust.
B) The trust property is deemed to be sold at market value upon the death of the beneficiary (the spouse) .
C) Both the spouse and any adult children may receive the capital of the trust prior to the spouse's death.
D) The 21-year rule is waived for the trust's first 21-year anniversary.
Correct Answer:
Verified
Correct Answer:
Verified
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