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American College Exam HS330 Topic 1 Question 73 Discussion

Actual exam question for American College's HS330 exam
Question #: 73
Topic #: 1
[All HS330 Questions]

Which of the following statements concerning a testamentary trust is correct?

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Suggested Answer: A

by Angella at Aug 06, 2023, 12:08 PM

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Marti
3 months ago
As an aspiring estate attorney, I can say with confidence that A is the right choice here. Testamentary trusts take effect at the grantor's passing.
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Sharen
1 months ago
C) The assets in the trust are free of probate costs.
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Martha
1 months ago
B) The trust terms must be included in the will.
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Leota
2 months ago
A) It becomes effective only at the death of the grantor.
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Pilar
3 months ago
Haha, D is a classic 'too good to be true' answer. Saving on death taxes? Not a chance with a testamentary trust!
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Jaclyn
1 months ago
Dulce: Thanks for clarifying, testamentary trusts can be tricky.
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Janessa
1 months ago
User 3: A is the correct answer, it only becomes effective at the grantor's death.
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Dulce
1 months ago
User 2: Definitely, it's not that simple with testamentary trusts.
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Gilma
1 months ago
User 1: I agree, D sounds too good to be true.
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Albina
2 months ago
Haha, D is a classic 'too good to be true' answer. Saving on death taxes? Not a chance with a testamentary trust!
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Sena
2 months ago
C) The assets in the trust are free of probate costs.
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Eden
2 months ago
B) The trust terms must be included in the will.
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Jesusita
2 months ago
A) It becomes effective only at the death of the grantor.
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Octavio
3 months ago
The assets in the trust are not free of probate costs, so C is incorrect. Gotta watch out for those tricky questions!
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King
3 months ago
The trust terms need to be included in the will, so B is correct. I remember learning that in my estate planning class.
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Leatha
3 months ago
A testamentary trust is definitely effective at the grantor's death, so A is the correct answer.
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Cherry
2 months ago
C) The assets in the trust are free of probate costs.
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Ilona
2 months ago
Yes, that's correct. The trust is established after the grantor passes away.
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Pamela
2 months ago
A) It becomes effective only at the death of the grantor.
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Ilona
3 months ago
But doesn't a testamentary trust also help in avoiding probate costs as mentioned in option C?
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Ria
3 months ago
I disagree, I believe the correct statement is B) The trust terms must be included in the will.
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Ilona
3 months ago
I think the correct statement is A) It becomes effective only at the death of the grantor.
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