Final answer:
Agents have a fiduciary duty to place clients' funds into a trust or escrow account as dictated by the terms of an agreement. The escrow ensures that funds are properly managed and disbursed by a third party, while trusts manage the transfer of assets according to the decedent's wishes.
Step-by-step explanation:
The duty owed to a client that requires agents to remit a client's funds into a trust or escrow account according to the terms of an agreement is known as fiduciary duty. Agents handling these funds for real estate transactions, for example, must place the funds in escrow, where they are managed by a third party until specific conditions are met. Similarly, in the context of a trust, an estate planning tool, an executor and trustee(s) work together to manage and execute the transfer of assets according to the decedent's wishes, which are detailed in the trust document.