Series 66 Quiz
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CLIENT INVESTMENT RECOMMENDATIONS AND STRATEGIES
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In 2026, a client transfers $100,000 to an irrevocable trust for her adult daughter. The trust gives the daughter the right to withdraw any contribution for 30 days after it is made; after that, the trustee holds the assets until the daughter reaches age 40. The annual gift tax exclusion is $19,000, and the lifetime estate and gift tax exemption is $15,000,000.
Which statement is correct regarding the gift tax consequences of the transfer?
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