In a Basic Will the Clause That Is Used in a Trust

question 67

Multiple Choice

In a basic will the clause that is used in a trust when you want the trustee to be able to give the life tenant or a capital beneficiary additional funds for special circumstances or needs is the ____________

• A)identification and revocation clause
• B)specific bequests clause
• C)legacies clause
• D)encroachment clause
• E)testimonium and attestation clause

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Definitions:

Marginal Revenue Product

Additional revenue resulting from the sale of output created by the use of one additional unit of an input.

Capital Inputs

The physical assets, financial resources, and human capital used in the production of goods and services.

Optimal Use

The most efficient, effective, or desirable utilization of resources or goods to achieve the best outcome or return.

Interest Rate

The percentage of a loan charged as cost to the borrower for the use of the money.