Tyus Jackson Recently Established Two Trusts

question 20

Multiple Choice

Tyus Jackson recently established two trusts.Meryl,a CPA,is the trustee of Trust Number 1.Daryl,is a skilled,non-CPA accountant who is the trustee of Trust Number 2.Meryl is subject to:

• A) The identical fiduciary duties that apply to Meryl
• B) Stricter fiduciary duties than apply to Meryl, if the trusts are inter vivos trusts
• C) Stricter fiduciary duties than apply to Meryl, if the trusts are testamentary trusts and Tyus no longer is alive
• D) Stricter fiduciary duties than apply to Meryl, regardless of the type of trust that was created, because of the AICPA's Statement on Conduct in Fiduciary Services

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