The Trusts That Arise Under a Probated Will and Are

question 37

Multiple Choice

The trusts that arise under a probated will and are often used to save on estate taxes are called:

• A)revocable trusts.
• B)irrevocable trusts.
• C)indenture trusts.
• D)testamentary trusts.
• E)living trusts.

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Definitions:

Maintenance Cost

Expenses associated with the upkeep and repair of equipment or facilities to ensure their proper functioning and efficiency.

Variable Component

A part or element of production costs or expenses that changes in proportion to the level of output or activity.

Machine-hour

A measure of production time, calculated as the total hours a machine is operated within a specific period.

Maintenance Cost

The expense associated with the upkeep and repair of equipment or facilities, ensuring they continue to operate efficiently.