Which of the following is a disadvantage of a revocable trust?
A. The grantor will be subject to gift taxes on the transfer of property to the trust.
B. The trust assets are subject to being probated upon the death of the grantor.
C. The grantor loses power to control the trust funds for federal estate tax purposes.
D. The trust is included in the gross estate of the grantor.
Answer: D. The trust is included in the gross estate of the grantor.
Business
You might also like to view...
Under what type of land contract does a trustee have the power to foreclose if the buyer stops making payments?
a. Straight b. Wrap-around c. Typical d. Power of sale
Business
In general-jurisdiction trial courts, the testimony and evidence at trial are recorded and stored for future reference
Indicate whether the statement is true or false
Business