A Trust Is a Contract Between a Grantor and a Trustee

question 152

True/False

A trust is a contract between a grantor and a trustee, which shields all assets from any federal tax and permits the small business owner to pass on his business without incurring tax liabilities.

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Definitions:

Permissive

Pertaining to a parenting or therapeutic style that allows and accepts behavior without strict control or limits.

Little Control

The perception or reality of having minimal influence over situations or outcomes.

Young Children

A demographic group typically defined as individuals from infancy through early childhood, characterized by rapid physical and cognitive development.

Academic Outcomes

The measurable performance results of educational activities, including grades, test scores, and graduation status.