Flem owns shares of stock in Gas & Oil Inc. To create a trust with the stock for the benefit of his spouse Hana, Flem must convey the shares to
A)a grantor.
B)a settlor.
C)a trustee.
D)a court.

Question

Quizplus · Accepted Answer

To create a trust with the stock for the benefit of his spouse Hana, Flem must convey the shares to a trustee. The trustee holds legal title to the trust assets and manages them according to the terms of the trust for the benefit of the beneficiary, in this case, Hana.

Flem Owns Shares of Stock in Gas & Oil Inc