Choose the Word or Phrase in [ ] Which Will

question 131

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-With a revocable living trust,the value of the assets placed into the trust [do | do not] become public knowledge.

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Definitions:

Release

A contract in which one party forfeits the right to pursue a legal claim against the other party.

Recovery

The process of obtaining rightful recovery or reimbursement for losses, damages, or sums owed.

Liquidated Debt

A debt that is due and certain in amount.

Accord And Satisfaction

A negotiated agreement and payment between parties in a dispute, where payment is accepted as full resolution.