Introduction to Trusts and Trust Provisions - Module 1 of 6
The person who holds legal title to assets in a trust is known as the…
Which of the following is not required for a valid trust to be formed?
Which of the following is true of parties to a trust?
Bobby, a doctor, asked his sister, Cindy, to hold title to Bobby’s house since Bobby wanted the house to be protected in the event that he would be sued. Later, Cindy claims the house is hers and refuses to transfer the house back to Bobby upon his request. Which of the following is correct?
Gerald comes to you and says that he wants to avoid creditors and save on estate tax by placing his assets into a revocable trust. Is this a good idea?
Why is a revocable trust sometimes referred to as a “will substitute”?
Darren asks your firm to prepare a revocable trust for him. Which of the following responsibilities is most likely to be included in this project?
A testamentary trust can be established by which of the following documents?
For income tax purposes, the assets in a revocable trust are…
Irrevocable and revocable trusts are equally effective at accomplishing which estate planning goal?