Which of the Following Statements Is True

question 2

Multiple Choice

Which of the following statements is true?

• A) The beneficiaries under a fixed trust must be ascertainable at the time the trust is set up.
• B) A trust to divide a fund in equal shares between 'such of my children who survive me' can only be valid if the person setting up the trust is already dead, otherwise the birth of new children will change the size of the class, and therefore the shares of the beneficiaries.
• C) The beneficiaries under a fixed trust must be described in such a way that they are individually identifiable.

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Definitions:

Flexible Thinking

The ability to adapt and adjust one's thinking or strategies in response to new information, changing conditions, or unexpected obstacles.

Agreeableness

A personality trait characterized by compassion, cooperation, and a desire to maintain positive social relations.

Extraversion

A characteristic that shows itself as being extroverted, energetic, and friendly.

Interpersonal Interaction

The process of exchanging information, feelings, and meaning through verbal and non-verbal messages in face-to-face settings.