Terminology Activity

4. Person or company assigned to wind down trust affairs if a trustee steps down
7. Person or group who receives the benefits of the trust
8. Legal court process that validates a will but is avoided by a living trust
9. A Trust created to establish Medicaid eligibility by an individual whose income is above the SIL
11. A type of trust that can be changed or canceled during the Grantor’s life
13. Person who creates and funds the trust
14. A trust created and operating during the Grantor’s lifetime
15. Person or entity that manages the trust assets

1. A Trust that cannot be revoked by the Grantor or terminated by a court
2. Property or cash held in a trust
3. The principal body of property or assets held within a trust
5. A Trust established for a disabled individual under age sixty-five
6. A trust created after death via a person's will
10. Category ______ is a Trust established by someone else for the benefit of the individual
12. Category ______ is a Trust established by will for the benefit of a surviving spouse