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Tanner Wagner
on Dec 20, 2024

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A trust will fail for lack of:

A) consideration.
B) a trustee.
C) definite and specific property forming the trust corpus.
D) All of these.

Trust Corpus

The principal amount or assets held in trust, as differentiated from the income generated by those assets.

Consideration

Something of value exchanged by parties in a contract that induces them to enter into the agreement.

Trustee

A legal entity or person appointed to manage and administer property or assets for the benefit of a third party.

  • Identify the various kinds of trusts and their distinguishing features.
  • Recognize the legal requirements for establishing wills and trusts.
  • Comprehend the implications of not adhering to legal requirements for wills and trusts.
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Sarah TaylorDec 20, 2024
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