What is the difference between a testamentary trust and an inter vivos trust? a. A testamentary trust
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What is the difference between a testamentary trust and an inter vivos trust?
a. A testamentary trust conveys money to a charity; an inter vivos trust conveys money to individuals.
b. A testamentary trust is created by a will; an inter vivos trust is created by a living individual.
c. A testamentary trust conveys income to one party and the principal to another; an inter vivos trust conveys all monies to the same party.
d. A testamentary trust ceases after a specified period of time; an inter vivos trust is assumed to be permanent.
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The correct answer is b A testamentary trust is created by ...View the full answer
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Related Book For 
Advanced Accounting
ISBN: 978-1259444951
13th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
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