Asked by Zachary Smith on Jun 08, 2024
Verified
A trust created by the grantor (settlor) and effective during the grantor's lifetime-that is, a trust not established by a will-is called a(n) _____ trust.
A) inter vivos
B) testamentary
C) charitable
D) spendthrift
Inter Vivos Trust
A trust created by the grantor, settlor, and effective during the grantor’s lifetime – that is, a trust not established by a will.
Grantor
An individual or entity that creates a trust, transferring ownership of assets to the trust.
- Familiarize oneself with the concept and types of asset management and division during the course of marriage and its termination.
Verified Answer
MB
Myesha BaldwinJun 14, 2024
Final Answer :
A
Explanation :
An inter vivos trust is a trust that is created by the grantor during their lifetime, as opposed to a testamentary trust, which is created upon the grantor's death through their will.
Learning Objectives
- Familiarize oneself with the concept and types of asset management and division during the course of marriage and its termination.