Selena decides to create a trust for the benefit of her children. She deeds her property to the entity that she creates but retains the power to amend, alter, or revoke the arrangement. She also continues to hold the property and receive the income that it earns. This is
A)not a trust.
B)a revocable living trust.
C)an irrevocable living trust.
D)a constructive trust.

Question

Quizplus · Accepted Answer

This is a revocable living trust because Selena retains the power to amend, alter, or revoke the trust, and she continues to benefit from the property. This type of trust allows the grantor to maintain control over the assets during their lifetime.

Selena Decides to Create a Trust for the Benefit of Her