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[Family Trust] Jasmine Had Made Lots of Money in the Stock

Question 79

Multiple Choice

[Family Trust] Jasmine had made lots of money in the stock market. She was getting older and was concerned about the integrity of her children and grandchildren who seemed unwilling to work. She decided that she would place the majority of her money in a trust and instruct that it be distributed only to family members who were gainfully employed or attending school on a full-time basis throughout the next twenty years. The remainder of the trust at that time was to be given to a local animal shelter. She also told her lawyer, Bao, that although she was in good health and mind at the present time, she would like a document drawn up giving her daughter Erica the power to make decisions for her, including financial decisions, should her health deteriorate to the point that she could not handle her own affairs.
-What type of trust did Jasmine set up to encourage her family members to go to school or work?


A) This type of trust would be identified as an illegal trust because it would not be enforced.
B) Relative review
C) Relative pushing
D) Family encouragement
E) Family incentive

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