The Purpose of a ________ Trust Is to Reduce Estate

question 57

Multiple Choice

The purpose of a ________ trust is to reduce estate tax liability when one spouse predeceases the other.

• A)sprinkling
• B)family
• C)Q-TIP
• D)revocable

Distinguish between different types of property (real, personal, tangible, and intangible).

Define fee simple absolute ownership and recognize its significance.

Identify examples of real property versus personal property.

Comprehend the legal distinctions between movable and immovable property.

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Definitions:

Theorists

Theorists are individuals who originate, develop, or utilizes theories across various disciplines, providing a systematic set of ideas to explain certain phenomena.

Cardinal Traits

Dominant personality traits identified by psychologist Gordon Allport, which define an individual’s overall behavior and are central to their personality.

Central Traits

Essential attributes that constitute a major part of a person's personality, around which their personality is organized.

Secondary Traits

Less consistent or pervasive personality attributes that can be influenced by situational factors or contexts.