Trusts-Will Substitutes
Order by
5 terms
Terms | Definitions |
|---|---|
 Revocable Inter Vivos trust | trust that creates present gift |
| Trusts as to LIfe Estate | can uphold a trust that gives the settlor a life estate in property |
| Advantages of revocable trust | no probate |
| Totten Trust Bank Accounts | a bank account depositor declares himself trustee of the account for a person who is to receive th money in the account at the time of the depositor's death |
| Ways to Revoke a Totten Trust | 1. Withdrawal of funds 2. Any lifetime act 3. specific contradictory provision in a will |
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