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.

---

Definitions:

Vision

The ability to see; the sense that allows organisms to detect light and perceive the colors, shapes, and depths of their surroundings.

Sensation

Sensation is the process by which sensory receptors and the nervous system receive and interpret stimuli from the environment, such as light, sound, and touch.

Perception

Perception is the process by which organisms interpret and organize sensory information to produce a meaningful experience of the world.

Interpretation

The act of explaining the meaning of something; in the context of data, it involves determining the significance or implications of the information presented.