Question
Which is an advantage of a trust compared to a will? Choose two correct answers.(2 points)
Responses
A trust ensures that survivors will continue to collect retirement payments.
A trust ensures that survivors will continue to collect retirement payments.
A trust allows assets to be passed on without going through probate.
A trust allows assets to be passed on without going through probate.
A trust is less complex and expensive to prepare than a will.
A trust is less complex and expensive to prepare than a will.
A trust names an executor to carry out a person’s final wishes.
A trust names an executor to carry out a person’s final wishes.
A trust can specify that money must be used for a specific purpose.
Responses
A trust ensures that survivors will continue to collect retirement payments.
A trust ensures that survivors will continue to collect retirement payments.
A trust allows assets to be passed on without going through probate.
A trust allows assets to be passed on without going through probate.
A trust is less complex and expensive to prepare than a will.
A trust is less complex and expensive to prepare than a will.
A trust names an executor to carry out a person’s final wishes.
A trust names an executor to carry out a person’s final wishes.
A trust can specify that money must be used for a specific purpose.
Answers
GPT-4o mini
The two correct answers that highlight advantages of a trust compared to a will are:
1. **A trust allows assets to be passed on without going through probate.**
2. **A trust can specify that money must be used for a specific purpose.**
These characteristics of trusts provide flexibility and can help avoid the lengthy and often costly probate process associated with wills.
1. **A trust allows assets to be passed on without going through probate.**
2. **A trust can specify that money must be used for a specific purpose.**
These characteristics of trusts provide flexibility and can help avoid the lengthy and often costly probate process associated with wills.