Skip to Main Content
GiftLaw Pro
Charitable Giving & Tax Information Service
Back to Gift Planning Website
GiftLaw Pro Home   >  Chapter 1 - Taxation and Giving  >  1.3 Estate Tax Deductions  >  1.3.4 Marital Deduction  >  Basic Quiz

Basic Quiz - 1.3.4 Marital Deduction

1. The estate tax marital deduction is limited to $1,500,000.
           
2. A bypass trust, or credit shelter trust, is created to protect assets from creditors and unforeseen lawsuits.
           
3. A QTIP trust can be designed to distribute assets to charity instead of children at the surviving spouse's death.
           
4. A QTIP trust is designed to benefit the future spouse and/or children of a future spouse of the donor's surviving spouse.
           
5. A QTIP election can be made for a transfer to a pooled income fund for a surviving spouse.
           
6. The value of a testamentary charitable remainder trust (CRT), which pays to the donor's spouse, is includable in the estate tax calculation.
           
7. The creation of a testamentary CRT by the donor for only the surviving spouse produces a marital gift tax deduction for the present value of the spouse's income stream.
           
8. The creation of a charitable remainder trust that names a surviving spouse and another income beneficiary or a surviving spouse and then children for a term of years will NOT receive a marital deduction even though the surviving spouse is the first income beneficiary.
           
9. A charitable remainder annuity trust for a surviving spouse does not qualify for the marital deduction.
           
10. A non-citizen spouse does not qualify for the unlimited marital deduction.