Which of the Following Would Be Charged to the Life

question 28

Multiple Choice

Which of the following would be charged to the life tenant's interest in the course of administering a trust?

• A) Expenses of selling a trust investment.
• B) The costs of establishing the trust.
• C) Ordinary repairs to trust property.
• D) Permanent improvements to the trust property.

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Definitions:

Probate Court

A specialized judicial process dealing with the validation and execution of a deceased person's will, including the distribution of assets to beneficiaries.

Great-Aunt

The sister of one's grandparent or the aunt of one's parent.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

In Rem

A legal term referring to a procedure or action directed against property, rather than against a particular person.