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Jackie and Frankie, a married couple, recently met with their attorney. They are considering following their attorney's recommendation on a testamentary trust for their assets.
Jackie and Frankie, a married couple, recently met with their attorney. They are considering following their attorney's recommendation on a testamentary trust for their assets. Which of the following is not a feature of a testamentary trust? Creation under a last will and testament Shifts an income tax burden to a lower-bracket taxpayer Results in the inclusion of assets in the gross estate Does not avoid probate
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