A(n)________ is an agreement between a grantor and a trustee where the trustee holds legal title to property for the beneficiaries of the trust.

Question

Quizplus · Accepted Answer

The definition provided describes a trust, where the grantor transfers legal ownership of assets to a trustee, who manages and distributes them according to the terms of the trust for the benefit of the named beneficiaries. A grantor-retained annuity trust, family limited partnership, and estate freeze are all estate planning strategies, but they do not match the specific details of the given definition.

A(n)________ Is an Agreement Between a Grantor and a Trustee