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What technique is used by trait theorists to reduce the diversity of traits to as few as three or five underlying traits?
Legal Capacity
Refers to the ability of an individual or entity to enter into legally binding contracts, recognizing their rights and responsibilities.
Testamentary Trust
A trust that is created by a will and comes into effect upon the death of the person who created the will, distributing assets according to the will's provisions.
Inter Vivos Trust
A trust created during the lifetime of the grantor, allowing for the management and distribution of assets before death.
Spendthrift Trust
A legal arrangement that restricts the beneficiary's ability to access the trust capital directly, thus protecting the trust assets from creditors.
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