An Advantage of a Spendthrift Trust Is That When the Trust

question 28

True/False

An advantage of a spendthrift trust is that when the trust is established, the settlor does not have to decide who specifically will receive the income and principal.

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Definitions:

Explicit Knowledge

Knowledge that can be articulated, codified, and communicated; it includes facts, information, and skills that a person can convey in a systematic and formal manner.

Spatial Updating

The processes by which individuals continually revise their mental representation of where things in the environment are with respect to their current location.

Demand Characteristics

Demand characteristics refer to the subtle cues or features in an experimental environment that may influence participants' behaviors or responses, thereby affecting the validity of the experiment.

Tversky

Amos Tversky, a cognitive and mathematical psychologist known for his work on decision-making and cognitive biases.