Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. elena lopez created a trust for the benefit of her

Elena Lopez created a trust for the benefit of her two children she named her...

70.2K

Verified Solution

Question

Accounting

Elena Lopez created a trust for the benefit of her two children she named her eldest child as the trustee. The trust instrument provided that the income earned from the trust should be distributed annually and an additional $3000 should be distributed to a local hospital. What classification best describes this trust?

1- Charitable

2- Complex

3- Grantor

4- Simp

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Please give a response to below paragraph the one marked response not the question. The Question:Discuss the...

Chemistry
1.2K views

explain why the carbons of even chain fatty acids can never be used to synthesize NET...

Advance Math
1.2K views

Consider the equation xy??+y?+y= 0, x >0. a) Verify that 0 is a regular singular point. (b)...

Biology
1.2K views

Choose the word that correctly completes this analogy maintain preservation reimburse A dispose B correlate...

Physics
1.2K views

Two pendulums of length 1 21 m and 1 0 m start vibrating At some...

Basic Math
1.2K views

a Complete the table below by providing the correct information required for each column 28...

Algebra
1.2K views

Write the following expression in exponential form 7 7 7 7 7 7 Use integers...

Accounting
1.2K views

Creative Computing sells a tablet computer called the Protab. The $780 sales price of a...

Accounting
1.2K views

At December 31, Aloe, Inc.'s assets equal $8,000 and stockholders' equity equals $5,000. Liabilities must...

Accounting
1.2K views

What if shortly after Client asked you to prepare back dated Crummey Letters, Client suddenly...

Accounting
1.2K views

ORIOLE COMPANY Income Statement $I 5 Presented below is information for Oriole Company for the...

Accounting
1.2K views

After completing the ESG Project In your opinion, how might your company be impacted by...