Which of the Following Is a Typical Duty of a Trustee

question 88

Multiple Choice

Which of the following is a typical duty of a trustee?

• A) Modify the language of the trust instrument so as to lower the entity's Federal income tax.
• B) Make decisions as to how to invest the trust corpus portfolio.
• C) Allocate items between income and corpus using Subchapter J rules.
• D) All of the above.

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Definitions:

Express Permission

Explicit authorization or consent given by a party to another to perform an action or use property or information.

Lakeside Property

Real estate located adjacent to or near a lake, often valued for its picturesque views and recreational opportunities.

Reimbursement

The act of compensating someone for expenses they have incurred.

Agency Coupled With An Interest

An agency relationship that is created for the benefit of the agent, not the principal.