Separate legal entities in which a third party manages property for the benefit of another person are:

Question

Quizplus · Accepted Answer

The description provided matches with the definition of a trust, which is a legal entity where a trustee manages property for the benefit of a beneficiary. Trustees are individuals or entities appointed to manage the trust, whereas trustor and grantor refer to the person who creates the trust. Therefore, the correct answer is C.

Separate Legal Entities in Which a Third Party Manages Property