Question: Define the term settlor as it pertains to a trust. ( 1 mark ) List 2 responsibilities of the trustee of a trust. ( 2

Define the term settlor as it pertains to a trust. (1 mark) List 2 responsibilities of the trustee of a trust. (2 marks) What is the primary difference between an intervivos and testamentary trust? (2 marks) Briefly explain what the 21-year deemed disposition rule is and provide 2 examples of the types of trusts that are exempt form the 21-year deemed disposition rule. (2 marks) Describe a situation whereby a Henson Trust is applicable. (4 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!