hard · Certified Financial Planner General Principles
The Okada family established an Irrevocable Life Insurance Trust (ILIT) for their four children and contributed $80,000 in 2026. Each child was given a Crummey withdrawal power.
What is the maximum amount that can be sheltered by the annual gift tax exclusion if the parents elect gift splitting?
- $20,000
- $76,000
- $152,000
- $80,000
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