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Which of the following is a true statement concerning Crummey powers? Allows an otherwise future interest to qualify for the annual exclusion.

/in /by

Which of the following is a true statement concerning Crummey powers?

  1. Allows an otherwise future interest to qualify for the annual exclusion.
  2. Beneficiary must be given a reasonable time within which to exercise the withdrawal power.
  3. The beneficiaries must be notified by the Grantor whenever a contribution has been made into the trust.

Question 16 options:

I only

I and II

I and III

III only

 
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