When the Settlor Dies, the Dispositive Provisions of a Revocable

question 3

True/False

When the settlor dies, the dispositive provisions of a revocable living trust become irrevocable.

---

Definitions:

Contractual Agreement

A legally binding contract that outlines the terms and conditions between two or more parties, specifying obligations, rights, and duties.

Proportionate Rights

The entitlements of shareholders to maintain their fractional ownership of a company by buying a proportionate number of new shares during issuance.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or other entity, providing an overview of a company's financial performance and financial position.

Proportionately Adjusted Income Statement

An income statement that has been adjusted to reflect changes in economic ownership or scale of operations.