Charitable trusts Study guides, Revision notes & Summaries

Cannon CTFA Prep Questions and Answers Already Passed Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. B....

This is a test - Answer-Test Nyu student - Answer-Steven Rules governing the actions of a trustee are determined by: - Answer-Governing Trust instrument State Trust Law Federal laws such as federal tax & environmental laws Legal title to trust property is vested in: - Answer-Trustee Equitable title to trust property is held by: - Answer-Beneficiaries Can settlor create trust by oral expression of intent? - Answer-Yes When a settlor creates a trust declaring herself or himself as a truste...

CFRE Test Questions with All Correct Answers Capital Campaign - Answer-A carefully organized, highly structured fundraising program using volunteers supported by staff and consultants to raise funds for specific needs, to be met in a specific time frame, with a specific dollar goal. Allows donors to pledge gifts to be paid over a period of years. Community Foundation - Answer-A philanthropic foundation that is specifically committed to the support of institutions in it's own community, oft...

ACCOUNTING Planning; Recording; Analyzing; Interpreting financial information. PLANNING DECISIONS Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. CONTROL Using financial information to evaluate the results of financial activities. THE FUNCTION OF ACCOUNTING 1. The value added to the networth of a person/entity during a particular period. 2. The accumulated networth of that person/entit...

Q. Which of the following types of trusts can use the Uniform Principal and Income Act power to adjust ? A. GRAT B. Trust under will C. Revocable trust D. Charitable lead trust - Answer-Solution : The correct answer is B. Q. Which of the following is a power of attorney for property that is effective upon execution and does NOT terminate upon the principal's incapacity? A. General B. Springing C. Durable D. Limited - Answer-Solution: The correct answer is C Q. A client borrows $ 100,...

These are the revision notes which I produced to sit the GDL equity and trusts paper (in 2021/22 at Oxford Brookes). I achieved a distinction both in this paper and overall. I previously achieved a First in PPE at Oxford. The notes run to 62 pages and 22k words, covering in full detail the following topics: Express trusts Formalities Private purpose trusts Charitable trusts Constructive trusts Resulting trusts Trusts of the family home Trustees (powers and duties) Breach of trust ...

Test Bank and Solution Manuals for Introduction to Federal Income Taxation in Canada, 44th Edition () By Nathalie Johnstone CHAPTER 1 Introduction Solution 1: Identify section of the Act The following summary is discussed in more detail below: Case Topic Part Division Subdivision Provision (A) Person ..................................................... XVII — — subsection 248(1) (B) Donation by individual............................ I E a subsection 118.1(3) (C) Balance-due day......

Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. - Answer-B. $175,000 - or one-half the value Once a will is pro...

Development is growth of mission and includes: - planning - communications - fundraising Planning calls for vision and leadership and answers what questions? - Who are we? - What makes us unique? - What do we want to accomplish? - How will we reach our goals? - How do we hold ourselves accountable? The best communication plans seek to: nurture in-depth relationships with constituents What is the foundation of all successful fundraising? the annual fund Which...

ORGS 305 M5CH11 Philanthropic Fund Raisingcharity - correct answer includes gifts to meet immediate human needs philanthropy - correct answer this is giving to strengthen the infrastructure of society, that is, to develop institutions that serve human needs or enhance human development over the long run development office - correct answer employees from this office are primarily engaged in fund-raising institutional advancement - correct answer this describes the activities performed by...