Question

The unified rate schedule applies to federal ____ taxes. inheritance and gift gift and income gift and estate income and estate

A trust designed to provide liquidity for an estate without increasing the size of the estate is a(n) ____. revocable living irrevocable life insurance testamentary charitable lead

Answer 1

The correct answer for this question is "D. income and estate." The unified rate schedule applies to federal income and estate taxes.

Here are the choices:
A. inheritance and gift
B. gift and income
C. gift and estate
D. income and estate

The correct answer for this question is "C. insurance testamentary." A trust designed to provide liquidity for an estate without increasing the size of the estate is an insurance testamentary.

Here are the choices:
A. revocable living
B. irrevocable life
C. insurance testamentary
D. charitable lead