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48 Cards in this Set
- Front
- Back
- 3rd side (hint)
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along
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along
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away
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away
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ago
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ago
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alike
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alike
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bridal
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bridal
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local
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local
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floral
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floral
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normal
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normal
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bitten
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bitten
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stiffen
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stiffen
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sudden
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sudden
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towel
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towel
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muffin
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muffin
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cabin
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cabin
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bobbin
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bobbin
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robin
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robin
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beckon
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beckon
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Boston
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Boston
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bottom
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bottom
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cannon
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cannon
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rumpus
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rumpus
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circus
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circus
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locust
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locust
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crocus
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crocus
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amuse
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amuse
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awake
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awake
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ajar
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ajar
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alone
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alone
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mortal
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mortal
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caress
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caress
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cadet
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cadet
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canal
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canal
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kennel
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kennel
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camel
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camel
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burden
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burden
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vesel
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vessel
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victim
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victim
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pencil
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pencil
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pupil
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pupil
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stupid
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stupid
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kingdom
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kingdom
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lemon
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lemon
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carbon
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carbon
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fathom
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fathom
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humus
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humus
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lawful
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lawful
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sinful
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sinful
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Wills - Trusts - Ways a Trust can be Terminated
When a trust wants to be terminated, it yells "Pour some ACID on ME!!!" |
PETITION to court
ACCOMPLISHED purpose CONSOLIDATION of trusts INCOME interest terminates DONOR termination MERGER of title EXPIRATION of trust term |
PETITION to court by beneficiary, spendthrift provision or settlor (if beneficiary is in agreement)
purpose ACCOMPLISHED, illegal or impossible (such as if the sole beneficiary dies without heirs) CONSOLIDATION by the court where multiple trusts have same purpose, trustees, settlors and beneficiaries INCOME interest terminates - corpus is distributed to remainder beneficiaries if all income beneficiaries die (doctrine of acceleration) unilateral DONOR termination permitted if this right is specified in the instrument. This right is called a "grantor trust," so assets are included in grantor's estate for tax purposes. MERGER of legal and equitable title when beneficiary and trustee are the same person EXPIRATION of term specified in the trust instrument |
