Question: 15. LO.3 The Flan Trust is scheduled to terminate in two years, when Amy Flan reaches age 30. Several years ago, the trust operated a

15. LO.3 The Flan Trust is scheduled to terminate in two years, when Amy Flan reaches age 30. Several years ago, the trust operated a business that generated a sizable NOL carryforward that the trust has not been able to use. In addition, due to a bearish stock market, the value of the entity’s investment portfolio has declined 15% from its purchase price. What issues must you consider in advising Amy and the corporate trustee?

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