What is the key difference between an inter vivos trust and testamentary trust
A testamentary trust is created when the settlor dies and their will is executed. The will
needs to state who the trustee and beneficiaries are, what the purpose is for t
What is the difference between a specific bequest and a general bequest?
When a testator makes a specific bequest, they are leaving a very specifically named or
described item that can easily be recognized and identified as unique amongst their
Alice serves as trustee of a trust for years. Describe at least one benefit that Alice can
gain from this arrangement and one possible downside for her to watch out for.
Alice will be compensated for the services she provides to the trust, and her