Assuming 365 days a year and an 8% return that is compounded daily, which scenario will give you the most money at the end of 40 years? Scenario 1: A payment of $1 a day?

Scenario 2: A single payment of $1,000,000 in 40 years?

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.