When Can an Individual Act as a Trustee

question 26

Multiple Choice

When can an individual act as a trustee?

• A) When the individual has capacity to manage her own affairs.
• B) When the individual also is named as a beneficiary.
• C) When the individual is related to the settlor.
• D) When the individual is nominated for the position.

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Definitions:

Unsuccessfully Resolved

Describes a situation or issue that has not reached a satisfactory resolution, often leaving problems or conflicts outstanding.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Tragic Accident

An unexpected and distressing event causing significant harm or loss, often evoking a strong emotional response.

Psychosexual Stage

A concept in Freudian psychology that describes the series of phases of sexual development from infancy to adulthood, each characterized by erogenous zone focus.