The Money in a Totten Trust Is a Probate Asset

question 15

True/False

The money in a Totten trust is a probate asset.

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Definitions:

Sexual Abuse

A form of misconduct where an individual is forced or coerced into unwanted sexual activity without consent.

Availability Heuristic

An expedient mental route that capitalizes on the initial instances that pop into one's mind when reflecting upon a specific subject, notion, procedure, or decision.

Conjunction Fallacy

An erroneous belief where specific situations are perceived as having a higher likelihood than a more generalized condition.

Hindsight Bias

The tendency to believe, after an outcome is already known, that one would have foreseen it, often referred to as the "I-knew-it-all-along" phenomenon.