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32. True or False: A Crummey letter is not necessary for Michael's $12,000 gift to qualify for the annual gift tax exclusion because the gift

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32. True or False: A Crummey letter is not necessary for Michael's $12,000 gift to qualify for the annual gift tax exclusion because the gift is under $17,000. 33. True or False: When Michael dies and the trust distributes the proceeds from the life insurance to Monica, she will need to pay tax on the $2 million distribution

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