A Trust Is a Legal Entity Whose Purpose Is to Hold

question 71

True/False

A trust is a legal entity whose purpose is to hold and administer property for the benefit of beneficiaries.

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Definitions:

Comprehensive

Including all or nearly all elements or aspects of something, thorough.

Barnum Effect

The tendency for individuals to see themselves in vague, stock descriptions of personality that could apply to many people.

Barnum Effect

The phenomenon whereby individuals believe that vague, general statements about personality are highly accurate for them personally, often used in psychics and horoscopes.

Consistent Tendency

A regular or habitual pattern of behavior or thought that is reliably observed across different situations and over time.