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Elena Lopez created a trust for the benefit of her two children she named her...

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Accounting

Elena Lopez created a trust for the benefit of her two children she named her eldest child as the trustee. The trust instrument provided that the income earned from the trust should be distributed annually and an additional $3000 should be distributed to a local hospital. What classification best describes this trust?

1- Charitable

2- Complex

3- Grantor

4- Simp

Answer & Explanation Solved by verified expert
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