Question

Which of the following is a true statement? Multiple Choice A fiduciary entity is a legal entity that takes possession of property for the benefit of a person. An estate is a fiduciary that comes into existence upon a person's death to transfer the decedent's real and personal property. A trust is also a fiduciary whose purpose is to hold and administer the corpus for other persons (beneficiaries). An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence. All of the choices are true.

Answer 1

Answer:

All of the choices are true.

Explanation:

The following statements are considered to be true

a. The fiduciary entity acts as a legal entity in which the possession of the property could be taken so that it would be benefit to the person

b. The estate acts as a fiduciary would come into existence at the time when the death of the person would be convert into the decedent real & personal property

c. The trust acts as a fiduciary in the case when the motive is to be hold

d.  The estate would be existed on temporary basis but the trust would be for non-definite existence