A[n] ______ Trust Is a Trust Created While the Settlor

question 45

Multiple Choice

A[n] ______ trust is a trust created while the settlor is alive or by will.

• A) Actual
• B) Express
• C) Implied
• D) Resulting
• E) Congruent

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Definitions:

Compounded Monthly

A method where interest earned is added to the principal, and future interest payments are calculated on the increased principal, with the process repeating each month.

Retirement Savings

Money that has been put aside to be used during retirement, often in specific retirement accounts or investment plans.

Withdraw

To remove funds from a bank account, or to pull back an offer or participation in an activity.

Annual Percentage Rate

The Annual Percentage Rate (APR) is the yearly interest rate charged on borrowed money, encompassing both the interest rate and any associated fees, to represent the total cost of borrowing.