Order of Beneficiaries Self-Quiz

 

 

 

 

 

 

 

Clint established a trust “to pay $10,000 annually (in equal shares) to Columbia University and Cornell University for 10 years, principal then to Hugh or his issue.” This is an example of
Choice 1 A charitable lead trust.
Choice 2 A charitable remainder trust.
Choice 3 A private express trust.
Clint established a trust “to pay $10,000 annually to my wife, Cynthia, for life, and on her death to Columbia University and Cornell University (in equal shares).” This is an example of
Choice 1 A charitable lead trust.
Choice 2 A charitable remainder trust.
Choice 3 A private express trust.
Clint established a trust “to pay $10,000 annually (in equal shares) to Columbia University and Cornell University for 10 years, principal then to Hugh or his issue.” The $10,000 represents 5% of the initial value of the trust assets. This is an example of
Choice 1 A charitable lead annuity trust.
Choice 2 A charitable remainder trust.
Choice 3 A charitable lead unitrust.
Clint established a trust “to pay $10,000 every other year to my wife, Cynthia, for life, and on her death to Columbia University and Cornell University (in equal shares).” The $10,000 represents 5% of the initial value of the trust assets. This is an example of
Choice 1 A charitable remainder annuity trust.
Choice 2 A charitable remainder unitrust.
Choice 3 A private express trust.
Choice 4 None of the above

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