18 $1,500,000 will pass outright from grandfather to grandfather's grandson, paul, by virtue of being named as the beneficiary of a bank account in grandfather's name. grandfather's son, john, who is paul's father is deceased, having died a week before grandfather. what will this event be? a. a taxable termination. b. a taxable distribution. c. a direct skip. d. none of the above.

ANSWER – A. A taxable termination

Since John, who is grandfather’s direct son is deceased, only the skip person (Paul, grandfather’s grandson) will be the beneficiary and the $1,500,000 will pass outright from grandfather to Paul, grandfather's grandson. This event be a taxable termination.

abolish

do away with

unanimous

in complete agreement

secede

separate; break free

inauguration

starting a new position with a formal ceremony.

cooperationist

people who wanted the north to cooperate with the south

surrender

to give up

volunteer

perform a service for free

draft

involuntary service in military

retreat

withdraw; move away from enemy

advisor

expert who gives advice

explanation: