A Sec. "2503(c) Trust

question 25

Multiple Choice

A Sec. "2503(c) trust"

• A) requires distribution of trust assets to the beneficiary at age 21.
• B) is a discretionary trust for a beneficiary of any age.
• C) is intended for beneficiaries over the age of 20.
• D) can be formed only by the parent(s) of the beneficiaries.

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Definitions:

Right to Be Heard

A principle that ensures consumers' opinions and complaints are considered by regulatory bodies, ensuring fair treatment in the marketplace.

Consumer Product Safety Commission

A U.S. federal agency that protects consumers from dangerous products by setting safety standards and conducting recalls.

Industry Safety Standards

The set of regulations, practices, and procedures established to ensure the safety and health of workers in various industries, often developed by regulatory bodies and industry organizations.

Safety Monitoring

The process of continuously observing and analyzing a system or environment to ensure that it remains free from danger or risk.