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Author Question: In purchasing life insurance, Kelsey concealed the fact that she has a muscular disease. The ... (Read 66 times)

segrsyd

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on: Jun 24, 2018
In purchasing life insurance, Kelsey concealed the fact that she has a muscular disease. The insurance company can void the policy if the muscular disease is found to be a material fact.
  Indicate whether the statement is true or false

Question 2

Identify four ways a trust can be terminated.


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strudel15

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Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

A trust ends: (a) on the date indicated by the grantor; (b) if the trust is revocable, when the grantor revokes it, or if the trust is irrevocable and the grantor and all the beneficiaries agree to revoke it or if the grantor is dead; (c) when the purpose of the trust has been fulfilled; or (d) the Rule Against Perpetuities comes into effect. The Rule Against Perpetuities provides that a trust must end within 21 years of the death of some named person who is alive when the trust is created. However, nearly half of the states now permit dynasty or perpetual trusts that last forever.


segrsyd

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

lcapri7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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