Mary creates an irrevocable trust with crummey withdrawal, Ask an Expert

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Mary creates an irrevocable trust with Crummey withdrawal powers. Sam, her husband, is the Trustee of the trust. Mary's 3 children are the trust beneficiaries. What is the maximum amount of annual exclusion gifts Mary's mother may transfer into this trust in 2006?

A. $12,000

B. $48,000

C. $50,000

D. Insufficient information has been provided.

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Reference No.:- M951714

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