Which of the Following Is a False Statement Regarding Trusts

question 12

Multiple Choice

Which of the following is a false statement regarding trusts?

• A) A settlor may revoke a trust at any time.
• B) Settlors may create trusts to prevent individuals from getting access to certain assets.
• C) Trusts may be set up to make "awards" to family members who make significant contributions in certain fields, such as education, science, law, or medicine.
• D) A trust document may state that the trust will terminate when an event happens, such as when the remainderman reaches a certain age.
• E) A court can place assets of a partnership in a constructive trust if it discovers that one partner is engaging in fraudulent or unconscionable conduct that might negatively affect the interests of another partner.

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Definitions:

Cultural Determinant

A factor, often related to beliefs, values, or norms, within a culture that influences behaviors or outcomes within that society.

Ideal Image

A person's conception of something in its absolute perfection or an entity's representation of itself or its products as perfect or near perfect.

Constraint Commitment

The commitment to a course of action or to another person based on a sense of obligation arising from constraints or limitations.

Moral Commitment

The dedication to act in accordance with one's ethical principles and values, even in the face of personal cost or challenge.