If included in a married client's will, which of the following testamentary trusts can qualify for the marital deduction?One where the income produced by the trust is to go equally to the surviving spouse and children for the spouse's life. Upon the surviving spouse's death, the corpus passes to the children in equal shares.One where the income produced by the trust is to go to the surviving spouse for his life. Upon the surviving spouse's death, the corpus passes to the children in equal shares. The executor of the estate can elect to treat the property as qualified terminable interest property (QTIP).One where the income produced by the trust is to go to the surviving spouse for his life. The surviving spouse can invade the corpus at any time and can consume the entire corpus at his discretion.One where the income produced by the trust is to be accumulated. In the discretion of the trustee, a part of the income may be distributed to the surviving spouse. The surviving spouse has no powers of appointment over this trust.

Answered: If included in a married client's will,…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If included in a married client's will, which of the following testamentary trusts can qualify for the marital deduction?

One where the income produced by the trust is to go equally to the surviving spouse and children for the spouse's life. Upon the surviving spouse's death, the corpus passes to the children in equal shares.
One where the income produced by the trust is to go to the surviving spouse for his life. Upon the surviving spouse's death, the corpus passes to the children in equal shares. The executor of the estate can elect to treat the property as qualified terminable interest property (QTIP).
One where the income produced by the trust is to go to the surviving spouse for his life. The surviving spouse can invade the corpus at any time and can consume the entire corpus at his discretion.
One where the income produced by the trust is to be accumulated. In the discretion of the trustee, a part of the income may be distributed to the surviving spouse. The surviving spouse has no powers of appointment over this trust.

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