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

Manage document sections and breaks to organize content.

Modify text and object positions accurately within the document.

Integrate and manipulate pictures and text in complex layouts.

Grasp the concept of linking and utilizing text boxes for fluid text flow.

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Definitions:

Money Supply

The all-encompassing amount of economic monetary assets at a designated time.

Reserve Requirements

Central bank regulations setting the minimum amount of reserves that must be held by a commercial bank.

Discount Rate

The interest rate charged to commercial banks and other financial institutions for loans received from the Federal Reserve's discount window.

Federal Reserve

The Federal Reserve is the central banking system of the United States, responsible for monetary policy, regulating banks, maintaining financial stability, and providing financial services.