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Business, 03.01.2020 02:31 xxsyd21

An elderly client has been a long-time client of joe, who is an iar. the elderly client has a trust account for his children and decides to name joe as the trustee via his will, once he passes away. joe is to oversee and manage the investments of the trust at his discretion once the elderly client passes away. when the elderly client passes away and joe is trustee, which of the following are correct?
i. joe would be considered a fiduciary for the trust account. ii. joe would be considered an agent who would receive commissions related to trades in the trust account. iii. joe would be considered a beneficiary of the trust account. iv. joe would be considered to have a certain level of discretionary authority over the trust account and would have custody of trust account funds as trustee.

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An elderly client has been a long-time client of joe, who is an iar. the elderly client has a trust...
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