All of the following statements regarding charitable remainder annuity trusts (CRATs) and charitable remainder unitrusts (CRUTs) are
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Question:
All of the following statements regarding charitable remainder annuity trusts (CRATs) and charitable remainder unitrusts (CRUTs) are CORRECT except
A)
they may be established as revocable trusts.
B)
the remainder beneficiary is a charity.
C)
the annual payout to an income beneficiary may not exceed 50% of the value of the trust.
D)
the remainder interest at inception must be greater than or equal to 10% of the original value of the property transferred to the trust.
Related Book For
Governmental and Nonprofit Accounting Theory and Practice
ISBN: 978-0133799569
11th edition
Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Posted Date: