A Person Named as a Trust Beneficiary

question 60

Multiple Choice

A person named as a trust beneficiary:

• A)may be almost anyone, unless the settlor's object outrages public policy or morals.
• B)may not sell or dispose of his interest during his lifetime.
• C)can, by will in all cases, name who will become the next beneficiary.
• D)will not be permitted to reject the trust.

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Definitions:

Legal Proceedings

Formal steps or actions taken within the judicial system to resolve disputes, enforce laws, or seek justice.

Notify

To inform or tell someone about something; to give notice.

Ethical Responsibility

An obligation to act in ways that are morally right, fair, and beneficial to both individuals and society as a whole.

Confidentiality

The obligation to keep personal, sensitive, or specified information private and not disclose it without proper authorization.