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:

Cluster

A collection or grouping of similar items, individuals, or events closely located or occurring together.

Dimension

A measurable extent of some kind, such as length, width, depth, or height, or an aspect or feature of a situation.

Selective Breeding

The process of breeding plants and animals for particular genetic traits, aiming to produce offspring with desired characteristics.

Genetically Influenced

Traits or characteristics that are shaped in part by an individual's genetic makeup.