Tyus Jackson Recently Established Two Trusts

question 20

Multiple Choice

Tyus Jackson recently established two trusts.Meryl,a CPA,is the trustee of Trust Number 1.Daryl,is a skilled,non-CPA accountant who is the trustee of Trust Number 2.Meryl is subject to:

• A) The identical fiduciary duties that apply to Meryl
• B) Stricter fiduciary duties than apply to Meryl, if the trusts are inter vivos trusts
• C) Stricter fiduciary duties than apply to Meryl, if the trusts are testamentary trusts and Tyus no longer is alive
• D) Stricter fiduciary duties than apply to Meryl, regardless of the type of trust that was created, because of the AICPA's Statement on Conduct in Fiduciary Services

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Definitions:

Personal Appeals

Influencing tactics that leverage the personal relationship between the influencer and the target, often invoking loyalty or friendship.

Coalition Building

The process of creating alliances among diverse groups or individuals to work toward a common goal.

Commitment

An individual's psychological attachment to an organization, idea, or relationship, typically reflected in their willingness to persist through difficulties.

Compliance

The act of conforming to or following rules, standards, or laws.