Question
Notwithstanding any gift tax exclusion, Crummey powers are further limited in the following way to not be considered a taxable gift to the other trust
Notwithstanding any gift tax exclusion, Crummey powers are further limited in the following way to not be considered a taxable gift to the other trust beneficiaries if the holder of the power allows it to lapse.
a. 5% of the trust assets. b. $5,000. c. $5,000 PLUS 5% of the principal. d. $5,000 OR 5% of the principal, whichever is greater.
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Fundamentals Of Corporate Finance
Authors: Berk, Peter DeMarzo, Jarrad Harford
3rd Global Edition
1292018402, 9781292018409
