Gladys Wants to Set Up a Trust That Is Also

question 29

Multiple Choice

Gladys wants to set up a trust that is also known as a bypass trust, family trust, "residuary" trust, A/B trust, and exemption equivalent trust. She should set up a(n)

• A) Credit-shelter trust.
• B) Revocable trust.
• C) Irrevocable trust.
• D) Living trust.
• E) Testamentary trust.

---

Definitions:

Deep Disposal

The process of disposing waste materials deep underground in specially engineered facilities to prevent contamination of the surface environment or water supplies.

Nuclear Reactors

Devices used to initiate and control a sustained nuclear chain reaction, primarily for the generation of electricity or for the production of nuclear materials for medical or military use.

Coal Reserves

Quantities of discoverable coal resources that can be economically and legally extracted at current prices.

Reactor Core Meltdown

A severe nuclear reactor accident characterized by the melting of the core components, leading to potential radiation release.