Individual A, who is 50 years of age, established a trust for the benefit of his spouse. The spouse is entitled to receive all of the trust’s annual income and has the sole right to encroach on the trust’s capital, if necessary. The trust must remain until the death of the spouse. This trust is classified as an inter-vivos trust that is also a spousal trust. Is this statement true or false?

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An intervivos trust is a fiduciary relationship used in estate planning created during the lifetime of the trustor Also known as a living trust this trust has a duration that is determined at the time ... View the full answer