Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

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When is a Living Trust, or Inter Vivos, established?

After the trustor's death
During the trustor's lifetime
Only upon marriage
When the beneficiary turns 18

The correct answer is: During the trustor's lifetime

Living trusts, or inter vivos trusts, are established during the trustor's lifetime. This allows the trustor to transfer assets into the trust and have control over those assets until they pass away. Option A is incorrect because a trust established after the trustor's death is a testamentary trust, not a living trust. Option C is incorrect because marriage does not have any impact on the establishment of a living trust. Option D is incorrect because the beneficiary's age does not determine when a living trust is established.