Which of the following is a separate legal entity that holds assets in trust for a child until the child reaches age 21?
A)Section 403(b).
B)Section 529(a).
C)Section 1185(b)Asset Trust.
D)Section 2503(c)Minor's Trust.

Question

Quizplus · Accepted Answer

Section 2503(c) Minor's Trust is a separate legal entity that holds assets in trust for a child until the child reaches age 21. This type of trust may offer tax benefits for both the grantor and the beneficiary, as the assets are removed from the grantor's estate and the beneficiary may be taxed at a lower rate.

Which of the Following Is a Separate Legal Entity That