Define each of the following terms: Will Estate Intestate Probate laws Trust Inter vivos trust Charitable remainder trust Remainderman Executor Homestead allowance

Which of the following funds are classified as fiduciary funds? Group of answer choices a.) Internal service and enterprise funds. b.) Trust and agency funds. c.) Capital projects and debt service funds.

Which one of the following is a correct statement about the nontax characteristics of a pooled income fund? A)It must pay a fixed dollar amount to the charitable beneficiary annually.   B)The principal is distributed to the charitable beneficiary at the end of the noncharitable beneficiary's (or beneficiaries') life (or lives).   C)Only the grantor and the charity can be beneficiaries.   D)The income beneficiary cannot receive more than 10% of the original principal value per year.

Which one of the following statements best describes the most important feature of a support trust?     A) Trust assets must revert to the grantor.     B) It is created by the terms of a will and therefore does not become effective until death.     C) It provides for the trustee to take over management of the grantor's assets only upon the occurrence or nonoccurrence of certain specified events.     D) It provides that the trustee shall distribute only so much of the income or principal as the trustee deems necessary for the support of a named beneficiary.