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William Set Up a Trust for His Parents

Question 62

Multiple Choice

William set up a trust for his parents.Each parent is to receive one-half of the income for his or her lifetime; when one parent dies, all income is to go to the surviving parent.When the other parent dies, the remainder is to go to William.This trust is


A) A revocable trust.
B) An irrevocable trust.
C) A grantor trust.
D) A complex trust.

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