The Difference Between a Testamentary Trust and a Living Trust

question 46

Multiple Choice

The difference between a testamentary trust and a living trust is that a testamentary trust

• A)is written by an attorney.
• B)is created by a will.
• C)exists only after probate.
• D)is controlled by the heirs.
• E)both B and C.

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Definitions:

Kinsey

Refers to Alfred Kinsey, a biologist and sexologist who researched human sexuality and published significant works on the subject in the mid-20th century.

Heterosexual

A person who is sexually attracted to members of the opposite sex.

Domestic Partners

Couples who live together in a committed relationship but are not legally married, with varying recognition and rights depending on the jurisdiction.

American Psychiatric Association

A leading scientific and educational organization aimed at promoting understanding, treatment, and prevention of mental illnesses.