Radically Innovative Changes Are Typically

question 53

Multiple Choice

Radically innovative changes are typically

• A) complex
• B) unfamiliar
• C) costly
• D) uncertain
• E) all responses are correct

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Definitions:

Incompetent

Lacking the necessary skills, knowledge, or ability to do something successfully or as required.

Rule Against Perpetuities

A legal principle that restricts the ability to control property through a will or trust indefinitely, ensuring that property is not tied up for generations beyond the lives of people living at the time the will or trust is created.

Charitable Trust

A trust established for charitable purposes, benefiting the public or a segment of it, and possessing special tax considerations.

Testamentary Trust

A trust that is created according to the instructions left in a deceased person's will and goes into effect upon their death.