Identify the Parties That Are Present When an Estate Is

question 65

Essay

Identify the parties that are present when an estate is created and their key duties. Then do the same for a trust.

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Definitions:

Impression Management

The practice of consciously controlling or manipulating the perception others have of an individual or organization.

Impression Management

The process by which individuals attempt to control the impressions others form of them, especially in social or organizational settings.

Perceptual Errors

Mistakes in judgment or interpretation caused by inaccuracies in the perception of sensory information.

Self-Fulfilling Prophecy

The way a person behaves based on pre-existing expectations about another person or situation so as to create an outcome that is aligned with those expectations.