Which of the following is not listed as a trust type in the material?

• A. Totten trust
• B. Pour-over trust
• C. Express trust
• D. Gift trust

Answer: (D)

The idea being tested is how trusts are categorized in the material. Totten trusts, pour-over trusts, and express trusts are all standard trust concepts that the material covers as distinct types. A Totten trust arises when a bank account is set up with a named beneficiary, creating a form of trust for those funds that's recognized for purposes of transfer at death, even though the account may not be a fully formal trust arrangement. A pour-over trust is created to receive assets from a will, so the will “pours over” those assets into a trust that will govern their distribution. An express trust is the classic category—the trust is created by explicit intent, either by a declaration or by transferring property to a trustee under agreed terms.

Gift trust, on the other hand, isn’t listed as a separate trust type in the material. A gift can be made to a trust, but that describes the act of transferring property, not a distinct form of trust itself. So gift trust isn’t recognized as its own category; the term more often appears as a description of gifts into or from a trust rather than a formal trust type.