Question $12$

Which of the following property interests does not qualify for a marital deduction from the deceased$$s wife$$s adjusted gross estate?

A$.$ A terminable interest trust that paid the husband all income annually for life. The personal representative elected to qualify the trust for the marital deduction on the wife$$s estate tax return.

B$.$ A vacation home the husband received from his wife that allows him to use the property for life. At his death, the property will pass to his wife$$s sone form a previous marriage, as she directed.

C$.$ The lifetime income interest that the husband received from a testamentary trust in which he also had the power to invade the trust corpus.

D$.$ Property that the husband received through the state$$s elective share statute.

Question $13$

Maxine and her three children were the beneficiaries of a bypass trust established when Maxine$$s husband died. Provisions in the trust gave Maxine the right to income for health, education, maintenance, or support if needed, combined with a $5-$and$-5$ power over the trust corpus. Maxine could also appoint all or part of the assets in the trust to her children. When Maxine died the trust was valued at $$6$ million, and Maxine had not exercised the power to make withdrawals from the trust that year. What amount was included in Maxine$$s gross estate at death?

A$.$ $$0$

B$.$ $$5,000$

C$.$ $$300,000$

D$.$ $$6$ million

Question $14$

Brunhilda is transferring $$500,000$ into an irrevocable trust that will pay income annually to her husband, Wolfgang, for the next $15$ years. The payment will be based on $4\%$ of the FMV of the trust corpus each year. The balance in the trust will then go to the local opera company, which is a public charity. What type of trust is this?

A$.$ CLAT

B$.$ CLUT

C$.$ CRAT

D$.$ CRUT