In each of the following cases, an individual has established a trust.
1) Anita established a family trust to hold investments in shares of public corporations for the benefit of her children.
2) Bob established a trust for the benefit of his wife. His wife is entitled to receive all of the income from the trust and no one, other than his wife, can have the use or enjoyment of the assets held by the trust until after her death.
3) Carol’s will directed that on her death a trust be established to hold assets for her children until the youngest reaches age 25.
4) Dan died in the current year leaving substantial assets under the control of the executor of his estate.
Determine the type of trust that has been established in each case. Income Tax Act reference: ITA 108(1).