Which Type of Trust Is Created Pursuant to a Will

question 38

Multiple Choice

Which type of trust is created pursuant to a will?

• A)A testamentary trust
• B)A Crummey trust
• C)A generation-skipping trust
• D)A life estate trust

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Definitions:

Income Effect

The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Diet Soda

is a low-calorie or zero-calorie carbonated beverage made with artificial sweeteners instead of sugar.