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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?
A. Creation under a last will and testament
B. Shifts an income tax burden to a lower-bracket taxpayer
C. Results in the inclusion of assets in the gross estate
D. Does not avoid probate
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