Multiply

question 233

Essay

Multiply.

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Definitions:

Spendthrift Trust

A trust designed to prevent the beneficiary's creditors from accessing the trust funds, providing financial protection for the beneficiary.

Totten Trust

A Totten Trust is a type of informal trust account created by depositing funds into a bank account with a beneficiary designated to receive the balance upon the depositor's death.

Savings Account Trust

A trust account set up at a bank or financial institution, where money is held under a trust agreement for the benefit of the beneficiaries.

Intestacy Statutes

Laws that govern the distribution of a person's estate if they die without a valid will, determining how their assets are divided among surviving relatives.