For Each of the Following Items, Insert the Best Term

question 64

Multiple Choice

For each of the following items, insert the best term or phrase. An answer choice may be used more than once, but only one choice is the best for each descriptive phrase.
-A trust whose income can be distributed to beneficiaries and in amounts at the trustee's discretion.

• A)Complex
• B)Decedent
• C)Executor
• D)Grantor
• E)Administrator
• F)Reversionary
• G)Simple
• H)Sprinkling
• I)Trustee

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Definitions:

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire, or die.

Retirement

The phase in life where one voluntarily leaves their job or career, often due to age.

Instrumental Support

Assistance provided to someone in the form of tangible aid or service, such as financial help or offering resources.

Energy

The capacity to do work or produce change, existing in various forms like kinetic, thermal, chemical, electric, among others.