Under a deferred annuity owned by a nongrantor trust, how does the annuity's death benefit operate? (Search Chapter 6) a. The death of the trust grantor triggers payout of the contract's death benefit and termination of the contract. b. The death of the primary annuitant triggers payout of the contract's death benefit and termination of the contract. c. The death of the trust beneficiary triggers payout of the contract's death benefit and termination of the contract. d. Annuities owned by a trust can continue in perpetuity; since trusts do not die, there is no death benefit payable from an annuity owned by a trust.
Under a deferred annuity owned by a nongrantor trust, how does the annuity's death benefit operate? (Search Chapter 6) a. The death of the trust grantor triggers payout of the contract's death benefit and termination of the contract. b. The death of the primary annuitant triggers payout of the contract's death benefit and termination of the contract. c. The death of the trust beneficiary triggers payout of the contract's death benefit and termination of the contract. d. Annuities owned by a trust can continue in perpetuity; since trusts do not die, there is no death benefit payable from an annuity owned by a trust.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 1RP
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Question
Under a deferred
(Search Chapter 6)
a. The death of the trust grantor triggers payout of the contract's death benefit and termination of the contract.
b. The death of the primary annuitant triggers payout of the contract's death benefit and termination of the contract.
c. The death of the trust beneficiary triggers payout of the contract's death benefit and termination of the contract.
d.
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