In His Will, Andrew Baker Provided for the Establishment of a Trust

question 3

Essay

In his will, Andrew Baker provided for the establishment of a trust that will include the bulk of his estate assets. At the time of his death, his net assets had a market value of $430,000 consisting of $75,000 in cash, $125,000 of U.S. Treasury bonds including accrued interest, and the remainder in various securities. Income beneficiaries of the trust will be the same as the income beneficiaries of the estate. Fiduciary Bank will act as trustee.
Required:

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Definitions:

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Functionalist Assumption

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Concerted Cultivation

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