A Beneficiary May Sell His Interest in Trust Assets Before

question 34

True/False

A beneficiary may sell his interest in trust assets before he is entitled to receive the corpus unless otherwise provided in the trust instrument.

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Definitions:

Income Bonds

Bonds that pay interest only when the issuer has earned sufficient profits.

Interest Expense

Interest expense refers to the cost incurred by an entity for borrowed funds over a period of time.

Semiannually

Semiannually implies an occurrence or calculation that happens twice a year, often used in the context of interest payments or reporting periods.

Annually

Occurring once every year or relating to a period of one year.