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For #39-42:Assume that Sylvia establishes a revocable living trust for herself during her lifetime and...

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Finance

For #39-42:Assume that Sylvia establishes a revocable living trust for herself during her lifetime and at her death the trust distributes assets to a QTIP trust for her husband with Sylvias brother as Trustee and to her children at husbands death.

39. True or False: Husband does not need to be entitled to all income from the QTIP for it to qualify for the unlimited marital deduction.

40. True or False: This strategy is effective to ensure that Sylvias children receive some assets when husband dies.

41. True or False: A limited power of appointment in a trust for a beneficiary ensures that the assets in the trust will be included in the gross estate of the beneficiary.

42. True or False: The estate tax credit is the value of assets that can be given away at death without incurring an estate tax liability.

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