A Totten Trust Is Created When a Person

question 12

Multiple Choice

A Totten trust is created when a person:

• A) deposits money in a bank for the benefit of another.
• B) directs in his will that a trust be created upon that person's death.
• C) executes the creation using a holographic will.
• D) opens a trust only for the benefit of poor people.

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Definitions:

Industrial Products

Goods and services sold from one business to another for the production of further goods and services, not directly consumed by end-users.

Salesperson Sold

A term indicating a scenario where a sales representative successfully convinces a buyer to purchase a product or service.

Professional Selling

Refers to the activity of personally promoting products or services to potential customers in a professional manner.

Traditional Definition

The original or widely accepted meaning of a term or concept based on historical or established uses.