Considering the current situation for the extended ferris

Reference no: EM13476986

1. Which of the following is least likely to be contained in Ted's marital trust for the benefit of Maria?

A. General power of appointment
B. Special power of appointment
C. Ability to name her creditors as payees
D. Full withdrawal rights

2. Fred's current trust can best be described as:

A. A funded revocable living trust
B. A simple trust with Crummey provisions
C. An irrevocable trust
D. A complex trust with a general power of appointment

3. If Ted dies, which of the following best describes his trust?

A. The trust retains its revocable character because it is a simple trust.
B. The trust becomes irrevocable.
C.The residuary must becomes irrevocable, but the marital trust is revocable.
D. The marital trust becomes irrevocable, but the residuary trust is revocable.

4. Considering the current situation for the extended Ferris family, which of the following is the mostviable technique to accomplish one or more of the stated objectives?

A. Transferring Fred's business interest to a GRUT, with Fred receiving 6% annual income, andthe remainder passing to Ted after 13 years
B. A gift of a present interest from Fred to Ted of the entirety of Fred's fractional businessholdings, and Fred and Mary electing gift-splitting to avoid gift tax.
C. Placing Fred and Mary's home into a 20-year QPRT, with Ted and Maria as remainderbeneficiaries.
D. A buy-sell agreement funded with life insurance (premiums paid by Fred), allowing Ted purchase Fred's shares at his death

5. Which of the following transfers would involve the smallest taxable gift?

A. Transfer of the growth fund to a 10-year GRA T with a 6% payout
B. Transfer of the value fund to a 15-year GRA T with a 6% payout
C. Transfer of the short-term fixed-income fund to a I5-year GRUT, using an 8% payout
D. Transfer of the home to a to-year QPRT

Reference no: EM13476986

Questions Cloud

Find out the current value of the bond if present market : twin oaks health center has a bond issue outstanding with a coupon rate of 7 percent and four years remaining until

Under which of the given discounting methods will the : question 1. the future value of an annuity is typically used when analyzingretirement plans.alternative capital

Make three reasonable marketing objectives for your chosen : select a company or product to apply to this crm exercise .part i.1. develop three reasonable marketing objectives for

Find the value of each of the bonds when required interest : pacific homecare has three bond issues outstanding. all three bonds pay 100 in annual interest plus 1000 at maturity.

Considering the current situation for the extended ferris : 1. which of the following is least likely to be contained in teds marital trust for the benefit of maria?a. general

If the price of silver goes down to 1294 at the same time : sterling jones purchases a 5000-troy ounce contract on silver at 13.00 an ounce. at the same time he purchases a 112000

Suppose that a stock is selling for 6675 with options : assume a stock is selling for 66.75 with options available at 60 65 and 70 strike prices. the 65 call option price is

The bond pays 60 per year interest and is selling in the : a convertible bond has a face value of 1000 and the conversion price is 50 per share. the stock is selling at 42 per

If fred completes business succession documents that : 1. lf fred dies today what is the amount included in his gross estate?a. 10828500 b. 10953000 c. 12040500 d. 121505002.

User Account

All Pages