A Trustee Cannot Make Decisions on Matters That Could Not

question 26

True/False

A trustee cannot make decisions on matters that could not be foreseen by the settlor.

---

Definitions:

Collateralized Borrowing

Borrowing funds while providing assets as security or collateral for the loan in case of default.

Restructuring Gain

Income or positive financial impact resulting from alterations made to a company’s operations, structure, or strategy aimed at improving efficiency or reducing costs.

Receivable

Money owed to a company by its customers or clients for goods or services provided on credit.

State Bank

A financial institution that is chartered by a state government, as opposed to a national or federal charter.