The Characteristics of a Totten Trust Include

question 63

Multiple Choice

The characteristics of a totten trust include:

• A) it is a joint bank account opened by the settlor of the trust.
• B) it is tentative.
• C) transfer of ownership is complete only on the depositor's death.
• D) These are all characteristics of a totten trust.

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Definitions:

Ethical Followership

The practice of supporting leaders and contributing to organizations in a manner that is consistent with ethical principles.

Collaborate

To work jointly with others or together especially in an intellectual endeavor.

Character Pillar

Fundamental qualities or attributes that define and shape an individual's character and moral integrity, often considered foundational to ethical behavior and personal development.

Fairness

The quality of making judgments that are free from discrimination, bias, and favoritism.