Valerie and Dino, who were married in 2010, made a gift to their son Michael on January 2, 2017. In July 2017, Valerie and Dino were legally divorced. Valerie married Scott on December 20, 2017. Which answer below best describes this situation?

A. The gift splitting benefits are available to Valerie and Dino if Valerie consents.
B. The gift splitting benefits are not available to Valerie and Dino because they were divorced in 2017.
C. The gift splitting benefits are not available to Valerie and Dino because Valerie remarried in 2017.
D. The gift splitting benefits are available to Valerie and Dino because they were married at the time the gift was made.

Answer: C. The gift splitting benefits are not available to Valerie and Dino because Valerie remarried in 2017.

Business

You might also like to view...

The Emergency Economic Stabilization Act prohibited federal regulators from exchanging funds for an ownership interest in banks.

a. true b. false

Business

The economic loss from long-term total disability can be greater than the economic loss that results from premature death.

a. true b. false

Business