Trusts Quiz 2

Question 1

1. An inter vivos trust must be in the form of an authentic act. true or false

Answer 1

false

Question 2

2. Which of the following is true?

A. The trustee must accept the trust in the same instrument in which the trust is created.
B. A trust can incorporate the terms of an existing trust by reference.
C. A testamentary trust must be in the form of a notarial will.

Answer 2

B

Question 3

3. T executed a notarial will on Day 1. The will included a testamentary trust. T died on Day 5. T’s succession was opened and his will was probated on day 10. The trustee accepted his appointment as trustee on Day 15. On what day was the testamentary trust established?

Answer 3

Day 5

Question 4

4. Settlor established a revocable inter vivos trust. A few years later, Donor gifted $100,000 to the revocable trust, unconditionally. Settlor now wants to revoke the trust. Is Donor’s consent required to revoke the trust?

Answer 4

No

Question 5

5. Settlor established an irrevocable inter vivos trust for the benefit of Beneficiary. A few years later, Donor decided to gift an additional $100,000 to the trust. When is Donor’s gift to the trust effective/complete?

Answer 5

d. Upon acceptance by the Trustee