Match up the terminology in the left column to the definitions in the right column.
1. Charitable remainder trusts
2. Pet trusts
3. Charitable remainder annuity trusts
4. Life insurance trust
5. Discretionary trusts
6. Spendthrift trusts
7. Qualified terminable interest trusts
8. Sprinkling or spray trusts
9. Irrevocable trusts
10. Special needs trusts
a. Trust in which the trustee is given broad powers of discretion with respect to investments and distribution of the trust income.
b. A specific type of charitable trust in which a non-profit organization or charity is named as the ultimate beneficiary.
c. A trust that may not be revoked by the trustor once it has been created.
d. Trust established to care for the decedent’s pets.
e. A specific type of charitable trust in which a donor makes a large gift to a charity in trust and the trust then pays the donor income each year with the charity as the ultimate beneficiary.
f. A trust in which money may be held for a handicapped person
g. A trust in which a life insurance policy is the asset held in trust.
h. Trust which prevents the beneficiary from alienating his or her interest in the trust
i. Discretionary trust in which the trustee has the sole discretion to determine how the income or principal will be distributed to the trust beneficiaries.
j. Property given to a surviving spouse that qualified as a marital deduction although the spouses interest is not absolute
1. b. A specific type of charitable trust in which a non-profit organization or charity is named as the ultimate beneficiary.
2. d. Trust established to care for the decedent’s pets.
3. e. A specific type of charitable trust in which a donor makes a large gift to a charity in trust and the trust then pays the donor income each year with the charity as the ultimate beneficiary.
4. g. A trust in which a life insurance policy is the asset held in trust.
5. a. Trust in which the trustee is given broad powers of discretion with respect to investments and distribution of the trust income.
6. h. Trust which prevents the beneficiary from alienating his or her interest in the trust
7. j. Property given to a surviving spouse that qualified as a marital deduction although the spouses interest is not absolute
8. i. Discretionary trust in which the trustee has the sole discretion to determine how the income or principal will be distributed to the trust beneficiaries.
9. c. A trust that may not be revoked by the trustor once it has been created.
10. f. A trust in which money may be held for a handicapped person
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What will be an ideal response?
?
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Fill in the blank(s) with the appropriate word(s).
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