Understanding Personal Trust Accounts

C

Personal trust accounts may be either living or testamentary, or revocable or irrevocable.

A living trust is created during the trustor's lifetime, while a testamentary trust is created after the trustor's death by provisions in their will.

A revocable trust can be changed or terminated by the trustor during their lifetime, while an irrevocable trust cannot be changed or terminated by the trustor without the consent of the beneficiary or beneficiaries.

Therefore, personal trust accounts can be both living or testamentary, and revocable or irrevocable.

Option C, "Both of these", is the correct answer to the question.