Question: Question 9 (1 point) Identify the correct answer for this description: Trust agreement outlines duties and responsibilities in detail, and the Trustee has no authority
Question 9 (1 point) Identify the correct answer for this description: Trust agreement outlines duties and responsibilities in detail, and the Trustee has no authority or discretion to alter decisions Discretionary Trust Non-dicretionary Trust Question 10 (1 point) The calculation of the federal credit for a general charitable donation of $678 involves the use of two tax rates. The higher of the two is 29%. Based on the applicable formula, this donation will allow a federal tax credit of $186.62. True False Question 11 (1 point) Wilson is the settlor of a discretionary trust into which he settled $500,000. Income and capital beneficiaries of the trust include Wilson and his two nieces. Wilson is also the sole trustee. Given this arrangement, who is responsible for the tax on the income earned by the trust? Wilson and his two nieces, in equal proportions. The trust The trustee can elect to have either the trust assume responsibility for the tax on the income or to allocate responsibility for the tax equally to the three beneficiaries. Wilson
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