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There are three important participants in the creation of a trust. Which of the following correctly describes these participants and their role? A trustee transfers

There are three important participants in the creation of a trust. Which of the following correctly describes these participants and their role?

A trustee transfers property to a beneficiary to hold and administer for one or more trustees.

A settlor transfers property to a trustee to hold and administer for one or more beneficiaries.

A beneficiary transfers property to a settlor for the benefit of one or more trustees.

A settlor transfers property to a partner to hold for the benefit of one or more shareholders.

A trustee transfers property to a partner to hold for the benefit of one or more shareholders.

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