Charitable trusts Study guides, Revision notes & Summaries

ACAMS Vocabulary Questions and Answers 2023 Account monitoring order ____ _____ ____ : In the United Kingdom and several other countries, an order from a government authority requiring a nancial institution to provide transaction information on a suspect account for a speci ed time period. Affadavit _____ : A written statement given under oath before an of cer of the court, notary public, or other authorized person. It is commonly used as the factual basis for an application for a sear...

A donor has a growing asset. The donor cares about making contributions to charity and also wants to transfer wealth to children free of transfer tax. Which tool would be an appropriate recommendation? charitable lead trust CRTs provide income tax benefits to the donor, an income stream to donor, and a remainder to charity, but do not provide for the balance to heirs. So, likewise, a gift annuity. The CLT does help charity and then it can go to the heirs. A client wants to set up a char...

Cannon CTFA Prep Questions with complete Answers 2023 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. $175,...

CTFA - Fiduciary & Trust Activities Questions with complete Answers 2023 Constructive Trusts A fraud rectifying trust, imposed by a court to protect those who lose property to a wrongdoer Resulting Trust An intent enforcing trust based upon the presumed intent of a transferor of property Implied Trust An implied trust is an element of trust law, and refers to a trust that has not been "expressly created by the settlor."[1] There are two types of implied trust: Construc...

Which of the following activities would be appropriate if you were establishing and defining the client-planner relationship or gathering information necessary to fulfill the engagement? 1 Collecting personal financial information 2 Inquiring about the number of dependents 3 Inquiring about the age or dates of birth of dependents 4 Determining which stocks to purchase for the client's investment portfolio - ANSWER 1-3 Establishing and defining the client-planner relationship does not inc...

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...

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. $175,000 - or one-half the value Once a will is prope...

Solution manual for Canadian Income Taxation 20222023 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman CHAPTER 1 TAXATION― ITS ROLE IN BUSINESS DECISION MAKING Review Questions 1. If income tax is imposed after profits have been determined, why is taxation relevant to business decision making? 2. Most business decisions involve the evaluation of alternative courses of action. For example, a marketing manager may be responsible for choosing a strategy for establishing ...

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...

ACAMS Questions and Answers 2023 Bank Draft Vulnerable to money laundering because it represents a reputable international monetary instrument drawn on a reputable institution, and is often made payable-in cash-upon presentation and at the issuing institution's account in another country. Bank for International Settlements (BIS) AN international organization that serves as a bank for central banks and which fosters international monetary and financial cooperation with the purpose of a...