Which of the following is true about trusts?

Question

Quizplus · Accepted Answer

The beneficiary of a trust has equitable title to the trust res, meaning they have the right to use and enjoy the trust property, but the legal title is held by the trustee. Option A is incorrect as trusts can become effective immediately after their creation, not only after the settlor's death. Option C is incorrect as trust documents are not typically public record. Option D is incorrect as the trust corpus refers to the property or assets that have been transferred to the trust. Option E is incorrect as it is the trustee's responsibility to collect money owed to the trust, pay trust taxes, and keep proper records.

Which of the Following Is True About Trusts