A Testamentary Trust Is a Trust

question 16

Multiple Choice

A testamentary trust is a trust

• A) Intended to protect the assets of a minor.
• B) That is managed by the trustor.
• C) That is managed by an estate.
• D) Established by a living person.
• E) Established by a will.

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Definitions:

Cost Reduction

The process of decreasing expenses or lowering financial outlays in order to improve profitability or efficiency.

Survival

The act of living through an event or situation, often one that is threatening or dangerous.

Social Inventions

Innovations or creations that primarily affect and modify social patterns, behaviors, or structures.

Organization

An arranged group of people with a particular purpose, such as a business, government body, or charity, operating within a structured framework to achieve collective goals.