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Which of the following is true with respect to utilizing life insurance trusts for estate planning purposes? Provides a method by which death benefit proceeds

Which of the following is true with respect to utilizing life insurance trusts for estate planning purposes?

  1. Provides a method by which death benefit proceeds are removed from the insured's estate.
  2. Transfers into the trust qualify for the annual exclusion.
  3. The number of annual exclusions is determined by the number of trustees.

Question 9 options:

I and II

I and III

II and III

III only

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