Match the terms with their descriptions:
-Qualified terminable interest property trust
A) Trust allowing the trustee to decide how much to give to each beneficiary
B) Implied trust
C) Trust established for charitable purposes
D) After death of the trustor, the will pours the particular gift into the trust
E) Self-settled trusts having independent trustees
F) One type of marital deduction trusts
G) Form of property ownership in which someone controls the property for the benefit of another
H) Express trust that sometimes arises from the use of polite language by a trustor in a will
I) Right to beneficial enjoyment
J) Instrument creating the trust
Correct Answer:
Verified
Q49: Match the terms with their descriptions:
-Resulting trust
A)
Q50: Match the terms with their descriptions:
-Trust deed
A)
Q51: Match the terms with their descriptions:
-Equitable title
A)
Q52: Match the terms with their descriptions:
-Spray trust
A)
Q53: Match the terms with their descriptions:
-Domestic asset
Q55: Match the terms with their descriptions:
-Public trust
A)
Q56: Match the terms with their descriptions:
-Pour-over trust
A)
Q57: Match the terms with their descriptions:
-Precatory trust
A)
Q58: Match the terms with their descriptions:
-Trust
A) Trust
Q59: Define a living trust. Compare and contrast
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