Income corpus and trust corpus and who are the owner

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Question: Using the content from chapter 52 of your assigned text, please distinguish between a will and a trust and its functions. Also, explain the titles, duties and functions of the parties involved in each such as the party that creates a will/trust, the parties that benefit from the will/trust, the administrator of the will/trust and the owner of the trust. Finally, explain the difference between a Income Corpus and Trust Corpus and who are the owner of each.

Reference no: EM133198806

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