Marion wants to establish a trust to provide, after her death, for her sisters. She also wants to establish two trusts during her lifetime. In the first trust, for the benefit of her children, the trust income should not be taxable to her. As for the second trust, for the benefit of her grandchildren, she wants to be able to change it. Discuss what types of trusts are available for Marion.
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Q53: Match the terms with their descriptions:
-Domestic asset
Q54: Match the terms with their descriptions:
-Qualified terminable
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
Q60: Define a public trust. Discuss different types
Q61: Compare and contrast a resulting trust and
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