Tim Gleason has set up a legal agreement that allows the First State Bank of Orlando to manage funds set aside for his daughter's college education.What type of financial service is Tim using?

Question

Quizplus · Accepted Answer

Tim is using a trust service, as he has set up a legal agreement (a trust) that designates the First State Bank of Orlando to manage funds for his daughter's college education. Trust services can be used for a variety of purposes, including managing assets for beneficiaries (such as Tim's daughter) and providing estate planning.

Tim Gleason Has Set Up a Legal Agreement That Allows