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Joe Smith has just died.Three months ago,when he knew that his death was impending,Joe established a spendthrift trust for the protection of his 16-year old son Bobby.The trust property consists mainly of $500,000 in investment securities.The trustee is Jack Purdy,a CPA.The trust agreement does not discuss the trust's termination.Can Jack invest trust assets differently than Joe invested them? For example,can he sell trust securities and buy others? Why or why not? Must Jack hire an investment professional to make trust investments?
Present Value
The current value of a future sum of money or stream of cash flows, discounted at a specific interest rate.
Bond
A bond is a fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental.
Rule Of 70
The Rule of 70 is a calculation method used to estimate the number of years required for an investment or the economy's GDP to double, based on a constant annual growth rate.
Interest
The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid to the lender over a set period.
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