Which of the following is a true statement?

Multiple Choice

• None of the choices are true.

• Serial gifts are limited in scope because only $10,000 can be transferred each year tax-free to any specific donee.

• A bypass provision in the will of the deceased spouse is designed to use the applicable credit of the deceased spouse by transferring property to beneficiaries other than the surviving spouse.

• Serial gifts can move significant amounts of wealth only if employed by multiple donors.

• Leaving all property to the surviving spouse maximizes the marital deduction and therefore minimizes total transfer taxes on the estates of both spouses.