Asked by Maria Rodriguez on Jun 18, 2024
Verified
Which type of trust is designed to take effect on the completion of a specified behavior?
A) Constructive
B) Family incentive
C) Implied
D) Involuntary
E) Living
Family Incentive
A reward or encouragement offered to promote family-related activities, goals, or behaviors.
- Understand various types of trusts and their specific purposes, including incentive trusts.
Verified Answer
JP
Jennifer PosadaJun 19, 2024
Final Answer :
B
Explanation :
Family incentive trusts are specifically designed to take effect or distribute assets upon the completion of specified behaviors or achievements by the beneficiaries, such as graduating from college or reaching a certain age.
Learning Objectives
- Understand various types of trusts and their specific purposes, including incentive trusts.