Examlex
Clay is both ________ and ________.
Legal Title
The formal ownership of property, which includes the rights to use, manage, and dispose of the property.
Personal Trust
A legal arrangement where assets are managed by a trustee for the benefit of another party, based on trust and confidence.
Defined Benefit
A type of retirement plan that promises a specified monthly benefit at retirement, which can be determined by factors such as salary history and duration of employment.
Pension Plan
A retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit. The pool of funds is invested on the worker's behalf, and the earnings on the investments generate income to the worker upon retirement.
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