A "Crummey Demand Power" in a Trust Document Allows the Donor

question 77

True/False

A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which earnings exist within the trust.

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Definitions:

Commitment Contract

A formal agreement a person makes with themselves or others to stick to a set of goals or behaviors.

Community College

A type of educational institution that offers two-year degrees (associates degrees), certifications, and sometimes, preparation for transfer to a four-year college or university.

Alcohol

A chemical compound often used in beverages that can alter mood and behavior, with the potential for dependency and health issues.

Negative Habit

A repetitive behavior that is detrimental to one's physical or mental health, often challenging to break due to its ingrained nature.