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GiftLaw Pro Home   >  Chapter 3 - Deferred Gifts  >  3.10 Unitrust  >  3.10.1 Unitrust Duration and Recipients  >  Basic Quiz

Basic Quiz - 3.10.1 Unitrust Duration and Recipients

1. It is permissible to create a charitable remainder unitrust that has a term of 25 years.
           
2. A charitable remainder unitrust allows the income beneficiary to select the payout amount each year.
           
3. It is permissible to create an eight-life charitable remainder unitrust.
           
4. It is permissible to create a unitrust for life or lives with a guaranteed number of years.
           
5. Including a guaranteed number of years in a charitable remainder unitrust has two disadvantages: 1) a decreased charitable income tax deduction, and 2) the possibility of losing the marital deduction.
           
6. It is possible to create a charitable remainder unitrust that will last for the lesser of life or a term of years.
           
7. It is permissible for a charitable remainder unitrust to pay for one or two lives and then a fixed term of 20 years.
           
8. In the case of a charitable remainder unitrust that will last for the lives of individuals, all named individuals must be alive and ascertainable at the time the trust is created.
           
9. A charitable organization may be named as one of the income beneficiaries of a charitable remainder unitrust.
           
10. The addition of a qualified contingency in a charitable remainder unitrust document will generally increase the charitable deduction, because the duration of the trust may now terminate at an earlier date.