A Trust That Is Used to Eliminate the Trust Property

question 12

Multiple Choice

A trust that is used to eliminate the trust property from the settlor's gross estate is a(n)

• A) implied trust.
• B) irrevocable living trust.
• C) revocable living trust.
• D) precatory trust.

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Definitions:

Homeless Americans

Individuals living within the United States who lack fixed, regular, and adequate nighttime residence, reflecting a condition of lack or instability of housing.

Retirees Living In Poverty

Describes elderly individuals who receive insufficient income from pensions or savings to meet basic living costs.

2008

A reference to the year, notable for the global financial crisis triggered by the collapse of the housing bubble in the United States.

Public Assistance

Government programs designed to provide financial aid, support, and services to individuals and families in need.