Thursday, May 2, 2024
Deferred Gifts

3.5.3 Basic Quiz -- Super Grantor Lead Trust
A super grantor lead trust allows for an income tax deduction.
     True      False
A super grantor lead trust provides for a gift tax deduction.
     True      False
The trust remainder reverts to the grantor with a super grantor lead trust.
     True      False
The trust is taxable on the income earned in a super grantor lead trust.
     True      False
If a super grantor lead trust is properly established, it will be included in the grantor's estate.
     True      False
Typically, the power retained in a grantor lead trust to make it a super grantor lead trust is the power to reacquire assets held by a nonadverse party.
     True      False
The power to reacquire assets held by a non-adverse party is usually held by a brother, sister or another non-adverse, but friendly, party to the donor.
     True      False
With a super grantor lead trust, if the donor wants to pay the least amount of gift taxes, the highest Applicable Federal Rate should be used.
     True      False
The gift tax deduction and the income tax deduction are always different amounts with a super grantor lead trust.
     True      False
If the donor is in the highest income tax bracket and would like to transfer property to family, a super grantor lead trust is a good gift planning idea.
     True      False



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