Sandy died recently leaving all her assets in a trust for her husband, Danny. Sandy was concerned that Danny would not be able to manage his money adequately to maintain his standard of living. Therefore, Sandy placed the assets into a spendthrift trust and gave Danny the right to receive a certain amount of income each year. Sandy appointed her good friend, Frenchy, to be the trustee of the trust. How is Frenchy's ownership classified?

Frenchy holds a life estate over the property.

Frenchy does not hold an interest in the property.

Frenchy holds the equitable title to the property.

Frenchy holds the legal title to the property.