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Before moving on, respond to the following question by selecting the best answer:

  1. Which of the following best describes the basic characteristics of a charitable remainder trust?

    1. Property is held in a revocable trust to provide the charity with a stream of income while the donor is alive, and is then donated to the charity at the donor's death.
    2. Property is held in an irrevocable trust to provide the charity with a stream of income while the donor is alive, and is then donated to the charity at the donor's death.
    3. Property is held in a revocable trust to provide the donor with a stream of income while the donor is alive, and is then donated to the charity at the donor's death.
    4. Property is held in an irrevocable trust to provide the donor with a stream of income while the donor is alive, and is then donated to the charity at the donor's death.

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