A "Crummey Demand Power" in a Trust Document Allows the Donor

question 77

True/False

A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which earnings exist within the trust.

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Definitions:

Base Level

The lowest point to which erosion by running water can occur, often the level at which a river meets the sea or lake.

Climate

The long-term pattern of weather in a particular area, typically averaged over a period of 30 years.

Stream-Cut Canyon

A deep valley formed through the prolonged action of a stream cutting through the terrain, often displaying steep sides.

Downcutting

A process by which a stream or river erodes its bed, deepening it over time, often leading to the formation of canyons or valleys.