A trust that is established by a will is called: (a) a revocable trust. (b) an irrevocable

Question:

A trust that is established by a will is called:

(a) a revocable trust.

(b) an irrevocable trust.

(c) an inter vivos trust.

(d) a testamentary trust.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Wiley Pathways Personal Finance Managing Your Money And Building Wealth

ISBN: 978-0470111239

1st Edition

Authors: Vickie L. Bajtelsmit, Linda Rastelli

See More Books

Question Posted: Jun 05, 2024 02:05 AM

See More Questions

Multiple Choice Questions 1. A couple has written a will that leaves part of their money to a trust fund. The income from this trust will benefit the surviving spouse until death, with the principal...
A Nike women's-only store in California offers women's running, training, and sportswear products and also contains an in-store fitness studio for group and personal fitness training sessions. The...
What is the difference between a testamentary trust and an inter vivos trust? a. A testamentary trust conveys money to a charity; an inter vivos trust conveys money to individuals. b. A testamentary...
Carter Co. has a value of $80 million. Buleigh is otherwise identical to Carter Co., but has $32 million in debt. Suppose that both firms are growing at a rate of 5%, the corporate tax rate is 38%,...
A system for dispensing radioactive fluid into capsules is shown in Figure AP3.8(a).The horizontal axis moving the tray of capsules is actuated by a linear motor. The x-axis control is shown in...
What are the costs to a company of financial distress? Discuss your answer using a case study company of your choice.
Gun control is a highly controversial issue in the United States today. The ANES asks a question about gun control, and here is how the respondents weighed in: Make it more difficult: 49.2% Make it...
Does the airlines current strategy truly differentiate it from its competitors? Is the strategy sustainable? Its the same plane going to the same place at exactly the same time. But these days, not...
Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Sales Variable expenses Contribution margin Fixed expenses Net...
For a single college student, age 20, with negative net worth, identify estate-planning goals that would be appropriate. Do the same for a 30-year-old married couple with two children and $150,000...
If your primary purpose in setting up a trust is to reduce estate taxes, you should set up: (a) a revocable trust. (b) an irrevocable trust. (c) a living trust. (d) a testamentary trust.
For each of the following situations, indicate the amount of the penalty that could be imposed on the tax return preparer: a. A tax return preparer understates the taxpayers tax liability with a...
You have recently taken over daycare center that was under substandard leadership. Currently, the staff is unmotivated, negative, and often absent from work. You notice that there is minimal...
Choose an organization from the industry of your choice to discuss, illustrate, and reflect deliberately on the following: Why is it important to distinguish between "group" and "team "? What kinds...
The focus of data governance programs, in some capacity, is enterprise-wide data quality standards and processes. If you were a manager focusing on master data: Would you likely meet enterprise-level...
1) Identify and explain each component of the ANOVA model. 2) How is the F ratio obtained? 3) What role does the F ratio play?
Make a BCG matrix table and place the following products from Apple: iPhone, iPad, iMac, iPod, Apple TV, Apple Watch, AirPod, and HomePod. Briefly describe why you have placed the products in the...
Using Hofstedes conceptualizations of culture described in your textbook, discuss an example of a cultural conflict you have observed or read about.
Figure displays a 12.0 V battery 3 four uncharged capacitors of capacitances C1 = 4.00F, C2 = 6.00F, and C3 = 3.00F. The switch is thrown to the left side until capacitor 1 is fully charged. Then the...
Kenneth lived in his home for the entire year except for when he rented his home (near a very nice ski resort) to a married couple for 14 days in December. The couple paid Kenneth $14,000 in rent for...
On December 31, 2021, Shack Store Inc had 143 million shares outstanding, which traded for $643.29 per share. On January 02, 2022, the CEO announced a 20-for-1 stock split. Every shareholder would...
o1s= secom o1s= secom

A trust that is established by a will is called: (a) a revocable trust. (b) an irrevocable

Question:

Step by Step Answer:

Wiley Pathways Personal Finance Managing Your Money And Building Wealth

Students also viewed these Business questions