A Totten Trust Is Created When a Person

question 86

Multiple Choice

A Totten trust is created when a person:

• A)deposits money in a bank for the benefit of another.
• B)directs in his will that a trust be created upon that person's death.
• C)executes a trust using a holographic will.
• D)opens a trust only for the benefit of the indigent.

Comprehend the role of family and personal experiences in shaping leadership and career development.

Understand the concept of career stress and its effects on job satisfaction.

Recognize different problem-solving styles and coping strategies.

Identify characteristics of authoritarian individuals and their impact on ethical behavior.

---

Definitions:

Endorsement For Deposit

A directive, usually on the back of a check, indicating that the check should be deposited into the account of the person named in the endorsement.

Restricts

Limits or confines actions, behaviors, or movements within certain parameters or conditions.

Unqualified Endorsements

Endorsements on negotiable instruments, such as checks, without any limitations, making the endorser fully liable.

Special

Distinguished by a unique or particular quality, purpose, or condition from what is ordinary or common.