Gary Ruhle Has Assets Worth $2,400,000

question 36

Multiple Choice

Gary Ruhle has assets worth $2,400,000. Since he plans to travel and does not want to oversee these assets, he has created a legal arrangement so the assets can be managed by an officer of his local bank. What type of legal arrangement has he most likely made?

• A) Guardianship
• B) Statutory will
• C) Trust agreement
• D) Living will
• E) Letter of instruction

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Definitions:

Meaningfulness

The significance or value attached to something, which makes it have purpose or importance.

Fringe Benefits

Additional benefits, beyond a wage or salary, provided by an employer to their employees, such as health insurance, paid vacation, and retirement plans.

Manufacturing Jobs

Positions involved in the creation of products from raw materials or components, using various processes, tools, and machinery.

Centralized Decision-making

A decision-making process where major decisions are made by a small group of people or a single individual at the top of the organizational hierarchy.