level: Level 1
Questions and Answers List
level questions: Level 1
| Question | Answer |
|---|---|
| Person who creates the trust | Grantor, Settlor, Trustor, Creator |
| A person who holds a position of responsibility for the benefit of another | Trustee |
| A person who benefits from the trust | Beneficiaries |
| Assets in the trust, also known as the 'body of the trust' | Corpus or Principal |
| A trust that can be nullified by the person who created it | Revocable trust |
| A trust that is needed if someone is OVI and applying for services | Income Cap Trust |