Sunday, April 28, 2024
Deferred Gifts

3.1.3 Basic Quiz -- Annuity Trust Payouts
There is no minimum or maximum payout percent from an annuity trust.
     True      False
The donor may specify a specific dollar amount to be paid from annuity trust.
     True      False
If a donor specifies a specific dollar amount that is later determined to be less than 5% of the initial fair market value, the donor must amend the payout to at least be 5%.
     True      False
In order to qualify as a charitable remainder annuity trust, the charitable deduction must be at least 10% of the initial fair market value of the asset contributed.
     True      False
It may be impossible for younger beneficiaries to qualify for a lifetime annuity trust payout.
     True      False
For an annuity trust funded with an unmarketable asset, the initial fair market value of an asset is determined by the sale price of that asset.
     True      False
If an annuity trust is funded with cash or publicly-traded stock, the donor still needs to have an appraisal.
     True      False
With an annuity trust, it is permissible for the trustee to withhold an annual payment if the trust is not producing enough income.
     True      False
The payout from an annuity trust is determined when the trust is established and never changes for the life of the trust.
     True      False
It is permissible for a donor to change the annuity trust payout once the trust is created if he or she deems the payout too high.
     True      False



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