Until the Obligor Has Notice of Assignment, the Obligor Can

question 44

True/False

Until the obligor has notice of assignment, the obligor can discharge his or her obligation by performance to any party.

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Definitions:

Settlor

A person who creates a trust by providing the initial trust property and setting the terms of the trust.

Federal Estate Tax

A tax levied by the federal government on the transfer of the taxable estate of a deceased person, whether transferred via will, according to state laws, or through an estate plan.

State Inheritance Tax

A tax imposed by some states on individuals who inherit property or money from someone who has died.

Estate Administration

The process of managing and distributing a deceased person's assets according to their will or the laws of intestacy.