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On July 12 of this year, Lucas transferred $250,000 of FFP stock to a new trust. He gave the trustee directions to pay income to
On July 12 of this year, Lucas transferred $250,000 of FFP stock to a new trust. He gave the trustee directions to pay income to Dina for the next 20 years and then remit the remainder to Dina's son George. Lucas named a bank as trustee but retained the power to revoke the trust in case he should need additional assets after retirement. Is the transfer of the stock a complete gift
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
