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20 5 Benjamin held a large portfolio of commercial real estate that he bequeathed to his children. His will gave the executor the discretion to

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20 5 Benjamin held a large portfolio of commercial real estate that he bequeathed to his children. His will gave the executor the discretion to convert or retain assets, but no expanded investment powers. Which of the following statements is FALSE? a) The executor can retain existing investments that do not conform to provincial legislation. b) New investments for the estate assets are limited by provincial trustee legislation. c) Provincial legislation prevents the executor from selling any of the real estate. d) The executor must make any new investments in accordance with provincial trustee legislation, even if this is not in the best interests of the estate or the beneficiaries

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