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Which of the following statements concerning estates and trusts is (are) correct?
l. Both estates and trusts come into being by operation of law.
II. The personal representative of an estate and the trustee have similar fiduciary responsibilities.
Suggested Answer: B
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7 comments · newest first
RU
Ruthann
11 months ago
Totally with you all on this!
ST
Stefany
12 months ago
Yeah, estates do come into being by law, but trusts are a bit different.
KI
Kirk
12 months ago
Wait, are estates really just automatic? Sounds off.
AR
Armanda
12 months ago
I agree, they both have fiduciary duties.
KR
Krissy
1 year ago
I think both statements are true.
LU
Lucy
1 year ago
Okay, I've got a strategy for this. I'll focus on the key points about observing reactions, like the importance of body language and the progression of questions. That should help me identify the incorrect statement.
EL
Ellen
1 year ago
I've got a good handle on risk management concepts, so I'm feeling pretty good about this one. I'll read through the options carefully and apply my knowledge.