A Trust That Comes into Existence Only After the Will

question 36

Multiple Choice

A trust that comes into existence only after the will is probated is known as a(n) _____ trust.

• A) testamentary
• B) living
• C) irrevocable living
• D) irrevocable life insurance
• E) revocable  living

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Definitions:

Consumer Needs

The motivations that drive individuals to seek satisfaction through product purchase and use, including basic physiological needs or more complex psychological desires.

Fortune 5,000 Companies

An expanded reference to the commonly known Fortune 500 list, hypothetically including a larger number of top-performing companies in terms of revenue.

Profit Motive

The driving force behind business activities aimed at generating financial gain or profit.

Very Large Organizations

Entities characterized by extensive operations, significant employee counts, and substantial market influence, typically operating on an international scale.