Which of the following is NOT a component of a living trust?

A living trust entails several critical components that govern the management and distribution of assets. The trustor's personal desires for property distribution are fundamental since a living trust is established precisely to reflect the trustor's wishes regarding how their assets should be managed and ultimately distributed after their death.

Transferring legal title of property to a trustee is also essential. This transfer is what enables the trustee to administer the trust on behalf of the trustor, providing them with the authority to manage the assets contained within the trust according to the terms laid out in the trust documents.

Establishing conditions for asset distribution is another vital component. This defines how and when beneficiaries will receive their shares, setting clear parameters that help prevent disputes and ensure that the trustor's intentions are respected.

While managing a beneficiary's finances may be part of the duties of a trustee if it pertains to the assets within the trust, it is not a primary component of a living trust itself. Instead, a living trust focuses more on the management of the trustor's assets, the transfer of those assets, and the conditions for their distribution rather than the financial management of individual beneficiaries' broader financial situations. This distinction is why the management of a beneficiary's finances does not align with the core components