A Totten Trust Involves a Bank Account Opened by the Settlor

question 56

True/False

A totten trust involves a bank account opened by the settlor of the trust.

---

Definitions:

Conversion Theory

A theory concerned with how people change their beliefs or behaviors in response to direct persuasion in a group context.

Minority Opinions

The views held by a smaller segment of the group, which can influence the majority under certain conditions despite their limited numbers.

Authority Commands

Directives or orders given by a person or body with power or control, often followed by those under their influence.

Agree

To accept or consent to a viewpoint or proposition shared by others.