A ___________ is established when an individual confers legal title to property to another person or institution to manage the property for one or more beneficiaries.
A)tax shelter
B)defined contribution plan
C)personal trust
D)fixed annuity

Question

Quizplus · Accepted Answer

A personal trust is the legal arrangement described in the statement. A tax shelter is a financial strategy to minimize tax liability, a defined contribution plan is a type of retirement account, and a fixed annuity is an insurance product that pays out a set amount of money over time. None of these options accurately describe the legal arrangement described in the statement.

A ___________ Is Established When an Individual Confers Legal Title