If a Trust Is Created to Take Effect Within the Lifetime

question 23

True/False

If a trust is created to take effect within the lifetime of the settlor, it is a testamentary trust.

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Definitions:

Innate

Referring to attributes or abilities that are present from birth, not acquired through experience or learning.

Cognitive

Pertaining to the mental processes of perception, memory, judgment, and reasoning, as contrasted with emotional and volitional processes.

Motivation Characteristics

Motivation characteristics refer to the individual qualities or factors that drive a person's actions towards achieving specific goals.

Activation

In psychology, it refers to the arousal level of the nervous system, influencing alertness and readiness to respond.