Rollo opens an account for $250,000 at Savers Bank. The account provides that the funds are held in trust for Thea, Rollo's daughter. This is

A) a constructive trust.
B) a living trust.
C) a resulting trust.
D) a testamentary trust.

Testamentary Trust

A trust that is created by will and therefore does not take effect until the death of the testator.

Constructive Trust

A legal remedy imposed by a court to address wrongdoing or unjust enrichment, creating a fiduciary relationship where the trustee must hold property for the benefit of the beneficiary.

Living Trust

A legal document that places assets into a trust for the grantor's benefit during their lifetime and specifies how to distribute remaining assets after the grantor's death.