The trust agreement does NOT
A) spell out the duties and powers of the trustee.
B) describe the trust property.
C) give directions for the distribution of the principal and income.
D) convey equitable title to the trustee.

Question

Quizplus · Accepted Answer

The trust agreement does not convey equitable title to the trustee. Equitable title is transferred to the trustee when the trust is funded with trust property. The trust agreement only spells out the terms and conditions of the trust and the duties and powers of the trustee, describes the trust property, and gives directions for the distribution of the principal and income.

The Trust Agreement Does NOT