A Trust Created by Will at the Death of a Testator

question 34

Multiple Choice

A trust created by will at the death of a testator is called a(n) :

• A) charitable trust.
• B) cy pres trust.
• C) inter vivos trust.
• D) testamentary trust.

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Definitions:

Drawer

The entity or person who writes or creates a check, thereby instructing the bank to pay the stated amount to the party named on the check.

Drawee

The party upon whom a check or draft is drawn, typically a bank, that is directed to pay a certain amount of money.

Stop-payment Order

An instruction given to a bank to stop a check or payment that hasn't been completed.

Writing

The act or process of producing and recording words in a form that can be read, understood, and preserved, often used legally to refer to the embodiment of agreements or contracts on a tangible medium.