Which is NOT an essential element of a trust?
A)A sale or gift of property
B)One or more beneficiaries
C)Real or personal property
D)One or more trustees

Question

Quizplus · Accepted Answer

A sale or gift of property is not an essential element of a trust. Trusts can be created without a sale or gift, as they primarily require a settlor to provide property, one or more trustees to manage the property, and one or more beneficiaries to benefit from the property.

Which Is NOT an Essential Element of a Trust