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:

Inverse Function

An inverse function reverses the operation of the original function, mapping the output back to its input.

Function

An alliance between a compilation of inputs and a list of legitimate outputs, where it's mandated that each input is attributed to only one output.

Domain

All possible values of x for which a given function is defined.

Composition

In mathematics, composition is the application of one function to the result of another, denoted as \((f \circ g)(x) = f(g(x))\).