Which of the Following Is Generally a Pre-Death Task in the Administration

question 5

Multiple Choice

Which of the following is generally a pre-death task in the administration of a trust?

• A)Filing the annual individual income tax returns
• B)Opening a checking account for the trust
• C)Preparing a schedule of property held outside the trust
• D)Requesting discharge as trustee

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Definitions:

Markov Analysis

A mathematical technique used for forecasting future occurrences based on current and historical data to identify likely transitions.

External Forces

Factors outside an organization that can affect its operations and success, such as economic conditions, competition, and regulatory changes.

Severance Pay

Severance pay is compensation provided to an employee after termination from a job, usually based on length of service or the terms of employment.

Terminated Employees

Individuals whose employment has been ended by their employer, for reasons that may include redundancy, misconduct, or mutual agreement.