Question
Trish Smith's will contains the following legacy: 'I give 10,000 to my sister Ingrid in the hope that she will share it with my goddaughter
Trish Smith's will contains the following legacy:
'I give 10,000 to my sister Ingrid in the hope that she will share it with my goddaughter Sophie.'
Which ONE of the following statements is CORRECT?
Ingrid will be required to share the 10,000 with Sophie and provide her with a reasonable income.
Ingrid will be required to share the 10,000 with Sophie but has a discretion as to the amount.
Ingrid will take the 10,000 as a gift.
Ingrid will hold the 10,000 on trust for Sophie.
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
