The Most Basic Type of Trust Is the ________ Trust,which

question 85

Multiple Choice

The most basic type of trust is the ________ trust,which allows a business owner to put assets into a trust naming his spouse as the beneficiary upon his death.

• A)irrevocable
• B)grantor
• C)bypass
• D)ESOP

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Definitions:

Liability

The state of being legally responsible for something, typically involving a financial or legal obligation.

Legal Owner

refers to the individual or entity that has the right to control, manage, and dispose of property or assets under the law.

Ethical Consideration

Refers to the moral principles that guide individuals and organizations in making decisions.

E-Commerce

The buying, selling, and exchanging of goods and services over the Internet, including the processing of payments and the delivery of products and services.