Asked by
Stephany Avalos
on Dec 01, 2024
Verified
Of the following elements, which one is NOT required to create an enforceable trust?
A) Consideration.
B) Legal capacity.
C) Specific property.
D) A beneficiary.
Enforceable Trust
A trust arrangement that meets all legal requirements and therefore can be executed as per its terms.
Legal Capacity
The ability of an individual or entity to enter into binding contracts, sue, and be sued, recognized by law.
Specific Property
Refers to a distinct, identifiable piece of property, as opposed to a general right or interest.
- Learn about the myriad types of trusts and their signature traits.
- Identify the legal obligations in setting up wills and trusts.
Verified Answer
KK
Learning Objectives
- Learn about the myriad types of trusts and their signature traits.
- Identify the legal obligations in setting up wills and trusts.