Charitable trust that is an irrevocable trust and that may be testamentary or inter-vivos (Between living persons) is called:

The correct answer is D. All except 3. The duties of a guardian in guardianship arrangements are similar to those of a trustee. Specifically, the guardian is obligated to: 1) Protect and preserve the assets 2) Submit an inventory and appraisal to the court 3) Retain or divest assets 4) Use principal and income for…

Define

Question

Options

AOnly 1.3,4
BAll of these
COnly 1, 2
DAll except 3

How the community answered

(23 responses)

A
17% (4)
B
4% (1)
C
4% (1)
D
74% (17)

Explanation

The duties of a guardian in guardianship arrangements are similar to those of a trustee. Specifically, the guardian is obligated to: 1) Protect and preserve the assets 2) Submit an inventory and appraisal to the court 3) Retain or divest assets 4) Use principal and income for the benefit of the ward 5) Submit an annual accounting to the court

Topics

#charitable trust#irrevocable trust#estate planning#trust types

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