The Code Defines a Grantor Trust as Which of the Following

question 89

Multiple Choice

The Code defines a grantor trust as which of the following?

• A)One which is required to file Form 1041-G.
• B)One which the grantor can revoke or otherwise amend.
• C)One in which a member of the grantor's family is the sole trustee.
• D)One which makes annual payments to designated charities.

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Definitions:

Non-Type D

Referring to individuals who do not exhibit a distressed personality type characterized by negativity, pessimism, and social inhibition.

Type A Personality

A personality type that is hardworking, scheduled, and impatient.

Hardworking

Characterized by diligent and resilient effort or exertion towards achieving goals and completing tasks.

Scheduled

Planned or appointed to occur at a specific time or date; organized in advance according to a timetable or agenda.