Financial Planner

Answer: D - a trust is created to hold, manage, and distribute assets to the beneficiary as indicated by the grantor of the trust. There are three major parties to a trust: the trustor who created the trust and whose property is used to fund the trust; the trustee who takes legal title and manages the trust assets; and the beneficiary who enjoys the beneficial interest in the trust. There is inter vivos trust that are activated immediately upon its creation and usually funded during the life of the trustor and there are testamentary trusts that are written into the will and implemented upon death.