Which of the following is a true statement?
A) A fiduciary entity is a legal entity that takes possession of property for the benefit of a person.
B) An estate is a fiduciaryentity that comes into existence upon a person's death to transfer the decedent's real and personal property.
C) A trust is also a fiduciaryentity whose purpose is to hold and administer the corpus for other persons (beneficiaries) .
D) An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence.
E) All of the choices are true.
Correct Answer:
Verified
Q110: Which of the following is a true
Q111: This year Evelyn created an irrevocable trust
Q112: Ryan placed $360,000 in trust with income
Q113: This year Carlos and Hailey purchased realty
Q114: This year Maria transferred $600,000 to an
Q116: Last year Brandon opened a savings account
Q117: This year Alex's friend Kimberly was disabled.
Q118: This year Evelyn created an irrevocable trust
Q119: Ryan placed $280,000 in trust with income
Q120: Caleb transferred $115,000 to an irrevocable trust
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