A ___________ is established when an individual confers legal title to property to another person or institution to manage the property for one or more beneficiaries.
A) tax shelter
B) defined contribution plan
C) personal trust
D) fixed annuity
E) Keogh plan

Question

Quizplus · Accepted Answer

A personal trust is established when an individual (the grantor) transfers legal title of property to another person or institution (the trustee) to manage for the benefit of one or more beneficiaries, which aligns with the description provided.

A ___________ Is Established When an Individual Confers Legal Title