Mark the three choices that are true of a living trust.
when the minor children reach a certain age, the living trust is always discontinued
a living trust is established while the owner of the property or money put in trust is still alive.
the estate is managed, invested, and controlled by the trust agency or person.
the profit is paid to the owner during his lifetime, and to whomever he names upon his death.

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: