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Lesson Four Quiz:
Click on your response for the correct answer.

5. A revocable living trust may be most attractive to:		7. Income tax charitable deductions are available for lifetime gifts from:
A. people who have small estates Please try again.		A. revocable living trusts Congratulations, correct answer.
B. people who own real estate in several different states Congratulations, correct answer.		B. irrevocable life insurance trusts Please try again.
C. people whose property is held entirely in joint ownership Please try again.		C. both A and B Please try again.

6. The minimum payment from a charitable remainder trust is		8. The word “bypass” in “bypass trust” means that:
A. 3% Please try again.		A. any trust income bypasses income tax Please try again.
B. 5% Congratulations, correct answer.		B. the trust bypasses probate at your death Please try again.
C. 7% Please try again.		C. trust assets bypass estate tax at the beneficiary’s death Congratulations, correct answer.

		9. When a trust ends, the assets are transferred to:
		A. income beneficiaries Please try again.
		B. a trustee Please try again.
		C. remainder beneficiaries Congratulations, correct answer.

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