Which of the following four statements regarding Estate, Trust, Bankruptcy and Reorganization is correctA. Bankruptcy and Reorganizations both use the Statement of Affairs instead of normal financialsB. All Wills and Trusts are effective upon deathC. Wills and Trusts are Temporary holding place for the creators income and principle until distribution. A will is still in effect after distribution of all Income and Principle.D$.$ Wills and Testamentary Trusts are effective upon death of the creator, however, Intervivos Trusts are effective during the life time of the creator. The statement of Charge and Discharge are used to account for the creators estate via a will and the Statement of Affairs is used to account for the liquidation of assets in a bankruptcy.