A settlor is allowed to revoke a trust even if he or she does not expressly reserve the right to revoke the trust.True false question.TrueFalse

What is the term for a trust created by the court that has no settlors?Multiple choice question.Express trustAmbulatory trustImplied trustInter vivos trust

Who creates a Trust?Question 4Select one:a.The Settlorb.The Trustee's Lawyerc.The Trusteed.The Beneficiaries' Lawyer

Why would someone set up a trust for a loved one who is unable to care for themselves?A.It protects assets from people who are owed money.B.It creates a steady income for the trustee.C.It sets aside funds to ensure the trustee gets the care they need.D.It protects the trustee from having to pay taxes.SUBMITarrow_backPREVIOUS

Which best describes the purpose of a trust?A.To give away assets in a managed fashionB.To distribute assets when someone passesC.To assign power of attorneyD.To determine someone's medical care preferencesSUBMITarrow_backPREVIOUS

What is a discretionary trust?