Frank Is Mary's Uncle

Frank is Mary's uncle.Frank sets up a trust for Mary by depositing $20,000 in the trust department at Last National Bank.In this situation:

A) Frank is the settlor,Mary is the beneficiary,and Last National is the trustee
B) Frank is the trustee,Mary is the beneficiary,and Last National is the settlor
C) Frank is the settlor,Mary is the legatee,and Last National is the trustee
D) Frank is the administrator,Mary is the trust corpus,and Last National is the executor
E) Frank is the settlor,Mary is the heir,and Last National is the administrator

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free