If an individual confers legal title to property to another person or institution to manage the property on their behalf, the individual has created ________.

Question

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Creating a personal trust involves conferring legal title to a trustee to manage property and assets on behalf of the individual who established the trust. This allows for greater control and protection of the assets, as well as potential tax benefits. A charitable trust is created for the purpose of donating to a charity or nonprofit organization, while an endowment fund and mutual fund are investment vehicles rather than trust arrangements.

If an Individual Confers Legal Title to Property to Another