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:

Functional Design

The aspect of design focused on the practical and operational use of a product, ensuring it performs its intended function efficiently.

Employee Understanding

The extent to which employees comprehend their job roles, organizational objectives, and the expectations placed upon them.

Direct Contact

Interaction between individuals or entities without intermediaries, allowing for immediate communication or transfer of substances or forces.

Focused Strategy

A business approach where a firm chooses to target a specific market niche, concentrating its resources on serving that segment to the exclusion of others.