In a trust, the trustee transfers certain property to a settlor.

Question 1          In a trust, the trustee transfers certain property to a settlor.

                a) True

                b) False

Question 2          The five requirements of a valid trust are: a trustor, trust property, a valid trust purpose, a trustee, and a beneficiary

                a) True

                b) False

Question 3          Equitable title refers to the right to benefit or profit from the property without holding the legal title to the property.

                a) True

                b) False

Question 4          There are two types of inter vivos trusts: revocable and irrevocable.

                a) True

                b) False

Question 5          A pour-over will distributes assets into an existing inter vivos trust.

                a) True

                b) False