A Trust Can Be Created to Take Effect During a Person's

question 69

True/False

A trust can be created to take effect during a person's lifetime but not after a person's death because the grantor must remain in control of the trust assets.

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Definitions:

Parallelism

The condition of being parallel; in geometry, it describes lines, planes, or surfaces that, no matter how far extended, do not meet.

Perfect Form

Ideal geometric shape of an object where all points meet the exact specifications without any deviations.

Virtual Condition

The theoretical boundary within which elements of a part must lie to ensure proper function or fit, considering maximum material condition.

Maximum Material Condition

A condition of a part where it contains the largest amount of material within its tolerances, often used in determining limit fits.