A Trust That Provides Continuity and Management of Asset Management

question 22

Multiple Choice

A trust that provides continuity and management of asset management and allows assets to bypasses probate,but which provides no income or estate tax advantages is a(n) ____ trust.

• A) revocable living
• B) irrevocable living
• C) testamentary
• D) charitable lead
• E) credit shelter

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Definitions:

Reinforcer

A stimulus or event that increases the likelihood of the recurrence of the behavior it follows.

Deliberately

Done consciously and intentionally; often implying careful thought or planning.

Reinforcement

In psychology, the process of encouraging or establishing a pattern of behavior by providing rewards or consequences.

Schedule

A plan for carrying out a process or procedure, giving lists of intended events and times.