The Characteristics of a Totten Trust Include That

question 1

Multiple Choice

The characteristics of a totten trust include that:

• A) it is a bank account opened by the settlor of the trust.
• B) it is tentative.
• C) transfer of ownership is complete only on the depositor's death.
• D) All of these.

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Definitions:

Racist Attitudes

Prejudiced beliefs or discriminatory behaviors based on race or ethnicity, often resulting in unequal treatment or social injustice.

William H. Seward

A prominent figure in American politics in the 19th century, known for his role as Secretary of State under Abraham Lincoln and Andrew Johnson, and for his purchase of Alaska from Russia, an act often termed "Seward's Folly."

Alaska

The largest state in the USA by area, known for its diverse terrain of open spaces, mountains, forests, and abundant wildlife, with economies based on oil, gas, fishing, and tourism.

United States

A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its economic and military strength.