Which of the following statements concerning charitable remainder annuity trusts is correct? 

Which of the following are ways of passing property from a deceased spouse to a surviving spouse so that the properly will qualify for the federal estate tax marital deduction? I. When the surviving spouse receives the property by electing to take against the deceased spouse’s will ll. When the surviving spouse receives the property as a consequence of the qualified disclaimer of another beneficiary 

Which of the following statements concerning certain types of property interests is (are) correct? I. The person or entity who has title to the property is the legal owner of the property. II. The person who has the right to all income earned on the property is the beneficial or equitable owner of the property. 

Requirements for property to qualify for the federal estate tax marital deduction include which of the following? l. The property interest must be includible in the decedent’s gross estate. II. The property must pass in such manner that it will be includible in the surviving spouse’s estate at death unless consumed or given away

On January 1, 2004 a father gave his daughter a $200,000 straight (ordinary) life insurance policy on his life. Premiums are paid annually. The pertinent facts about the policy are: Date of issue: July 1, 1992 Premium paid on July 1, 2003 $3200 Terminal reserve on July 1, 2003 20,000 Terminal reserve on July 1, 2004 24,000 What is the value of the policy for federal gift tax purposes?