Briefly Answer the Following Questions

question 4

Essay

Briefly answer the following questions:
With regard to non-spousal trusts:
A) What is the purpose of the 21-Year Rule?
B) What event occurs on the 21^st anniversary of a trust?
C) What types of properties are subject to the 21-Year Rule?
D) How can the consequences of the 21-Year Rule be avoided?
With regard to spousal trusts:
E) What is the exception to the 21-Year Rule for spousal trusts?

• A) What is the purpose of the 21-Year Rule?
• B) What event occurs on the 21^st anniversary of a trust?
• C) What types of properties are subject to the 21-Year Rule?
• D) How can the consequences of the 21-Year Rule be avoided?
• With regard to spousal trusts:
• E) What is the exception to the 21-Year Rule for spousal trusts?

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Definitions:

Tenure

A status granted to educators, often at the collegiate level, that provides them with a permanent position, protecting them from being fired without just cause.

In Loco Parentis

A legal doctrine that allows institutions or individuals to assume parental responsibilities and make decisions on behalf of a minor.

Domestic Reform

The process of implementing significant changes in a country's policies, laws, and social systems in order to address internal issues and improve the welfare of its citizens.

Assassination

A targeted killing of a public figure, usually for political reasons.