Question
Tory (age 63) established a trust and named his second wife Teri (age 50) as income beneficiary for 20 years. After 20 years, Tory's son
Tory (age 63) established a trust and named his second wife Teri (age 50) as income beneficiary for 20 years. After 20 years, Tory's son Tex (age 40) and nephew Alex (age 25) are to receive lifetime income interests. After the deaths of both Tex and Alex, the remainder passes equally to Tory's granddaughter Lisa (age 20) and great-granddaughter Faith (age 1). How many younger generations are there in this trust arrangement?
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
