Question: i need help from 1-9 1. A trust is an written witnessed and notarized document, in which one person, the settlor, agrees to transfer the

i need help from 1-9 i need help from 1-9 1. A trust is an written witnessed

1. A trust is an written witnessed and notarized document, in which one person, the settlor, agrees to transfer the settlor's assets/property to a trust which is managed by the trustee, who will manage the trust assets for the benefit of other people or organizations, the beneficiaries. True or False 2. The chief benefit of creating a trust to hold your assets, is that after your death your assets can be distributed to the people who inherit them without the need for a Probate Court Proceeding which will save the beneficiaries time and money. True or False 3. A Will does two things for your beneficiaries: it nominates Guardians to raise minor children, that is children who have not reached the age of majority (18/21 depending on your state of residence). And the will distributes property owned by the settior but not placed in trust. True or False I I 4. What does a pour over will accomplish: 5. Property left in Wills generally requires a Probate Court proceeding which can take up to 1 year plus require payment of filing fees, court costs and legal representation. True or False 6. Should you serve as a Co-Trustee? Yes or No and why? 7. Is a court order required to determine if a settior is incapacitated? Yes or No 8. Durable Powers of Attorney are needed for your Financial Affairs and your Health Affairs. In many instances, the trustee will also assume these duties. True or False 9. What is an affidavit? 1. A trust is an written witnessed and notarized document, in which one person, the settlor, agrees to transfer the settlor's assets/property to a trust which is managed by the trustee, who will manage the trust assets for the benefit of other people or organizations, the beneficiaries. True or False 2. The chief benefit of creating a trust to hold your assets, is that after your death your assets can be distributed to the people who inherit them without the need for a Probate Court Proceeding which will save the beneficiaries time and money. True or False 3. A Will does two things for your beneficiaries: it nominates Guardians to raise minor children, that is children who have not reached the age of majority (18/21 depending on your state of residence). And the will distributes property owned by the settior but not placed in trust. True or False I I 4. What does a pour over will accomplish: 5. Property left in Wills generally requires a Probate Court proceeding which can take up to 1 year plus require payment of filing fees, court costs and legal representation. True or False 6. Should you serve as a Co-Trustee? Yes or No and why? 7. Is a court order required to determine if a settior is incapacitated? Yes or No 8. Durable Powers of Attorney are needed for your Financial Affairs and your Health Affairs. In many instances, the trustee will also assume these duties. True or False 9. What is an affidavit

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