Once a Trust Is Validly Created, It Is Revocable

question 45

True/False

Once a trust is validly created, it is revocable.

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Definitions:

Installment Notes

Long-term debts that are paid back in regular, periodic payments over time, which include both the principal and interest.

Journal Entries

Records of financial transactions in order by date, used in accounting.

Retirement

The act of leaving one's job and ceasing to work, typically upon reaching a certain age, often associated with receiving pension or retirement benefits.

Interest Payment

The amount paid by a borrower to a lender as compensation for the use of borrowed money.