Estate planningplease provide little explanation with the, Ask an Expert

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Estate Planning

Please provide little explanation with the answers.

1- John and Mary are interested in passing the maximum amount to their grandchildren upon their deaths. Can they utilize portability for GST purposes to double the amount that can pass transfer tax free?

(A) Yes, portability applies to all transfer taxes.

(B) No, portability does not apply to GST tax.

2- Which of the following statements concerning complex trusts is (are) correct?

I. The trust must be required to accumulate trust income.

II. The trustee may be given the authority to make gifts of trust property to charity.

(A) I only.

(B) II only.

(D) Neither I nor II.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91602699

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