The Difference Between a Testamentary Trust and a Living Trust

question 46

Multiple Choice

The difference between a testamentary trust and a living trust is that a testamentary trust

• A)is written by an attorney.
• B)is created by a will.
• C)exists only after probate.
• D)is controlled by the heirs.
• E)both B and C.

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Definitions:

Dreams

Series of thoughts, images, and sensations occurring in a person's mind during sleep, often symbolic or seemingly nonsensical.

Self-Fulfillment

The realization or fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.

Consciousness

The condition where one is conscious of and can contemplate their own being, feelings, ideas, and surroundings.

Humanism

A philosophical and ethical stance that emphasizes the value and agency of human beings, individually and collectively.