One Feature of a Qualified Terminable Interest Property (QTIP) Trust

question 30

True/False

One feature of a qualified terminable interest property (QTIP) trust is that the rule against perpetuities does not apply.

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Definitions:

Generalization

The process of applying information or conclusions from specific instances to broader contexts or groups, often simplifying complex information.

Assimilation

Piaget’s term for incorporation of new information into an existing cognitive structure.

Accommodation

Adjusting one's schemas and understanding to incorporate new and differing information or experiences.

Schematization

The process of organizing information or experiences into schemas, which are mental structures that represent some aspect of the world.