The Trustee Is the Person for Whose Benefit a Trust

question 39

True/False

The trustee is the person for whose benefit a trust is held.

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Definitions:

Sophisticated Clients

Clients who possess a high level of knowledge, experience, or resources, enabling them to make informed decisions.

Legal Advice

Professional guidance provided by a qualified lawyer regarding the law or a particular legal situation.

Lawyer Referral Service

A service, often operated by bar associations, that helps people find lawyers with the appropriate expertise for their legal issues.

Initial Consultation

The preliminary meeting between a professional, such as a lawyer or consultant, and a client to discuss the client's needs and determine the course of action.