Multiple Choice
Identify which of the following statements is false.
A) A gift occurs when a revocable trust is funded.
B) A gift does not occur until the transfer is complete.
C) A transfer is incomplete (and not subject to the gift tax) if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
D) Transfers to an irrevocable trust can be deemed incomplete.
Correct Answer:
Verified
Correct Answer:
Verified
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