Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) Every grantor is entitled to a $5.25 million exemption from the GSTT in 2011.
B) If Greg transfers assets directly to his grandson, this transaction would be an example of a direct skip.
C) If Shaad transfers property in trust to his son, with the remainder to his grandson, at the death of the son a taxable termination will result.
D) The GSTT is levied at a flat rate, which is higher than the top rate under the estate tax rate schedule.

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