William Set Up a Trust for His Parents

question 31

Multiple Choice

William set up a trust for his parents.Each parent is to receive one-half of the income for his or her lifetime; when one parent dies, all income is to go to the surviving parent.When the other parent dies, the remainder is to go to William.This trust is

• A)A revocable trust.
• B)An irrevocable trust.
• C)A grantor trust.
• D)A complex trust.

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Definitions:

AIDA Model

A common model of the series of mental stages through which consumers move as a result of marketing communications.

Intention, Action, Interest

This phrase describes the progression from having a motivating desire (intention), to undertaking a specific behavior (action), to maintaining focus on an activity or subject (interest).

Think, Feel, Do

A model describing the cognitive, emotional, and behavioral responses that marketing or any stimulus can evoke in individuals.

Integrated Marketing Communication

A strategic, collaborative, and promotional business process that uses multiple communication channels to connect with the audience and deliver a consistent message about a brand, product, or service.