What Type of Trust, Where the Settlor Must Clearly Intend

question 49

Multiple Choice

What type of trust, where the settlor must clearly intend to create a trust, has the following four elements: (1) a settlor, (2) a trustee, (3) trust property, and (4) at least one beneficiary?

• A) Express trust
• B) Implied trust
• C) Testamentary trust
• D) Living trust

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Definitions:

Negative Information

Information that portrays drawbacks, disadvantages, or adverse outcomes related to a subject or situation.

Chordae Tendineae

Heart strings that connect the papillary muscles to the tricuspid valve and the mitral valve in the heart.

Mitral Valve

A valve in the heart located between the left atrium and left ventricle; it prevents the backflow of blood into the atrium.

Aortic Valve

A valve in the heart between the left ventricle and the aorta that prevents blood from flowing back into the heart.