Miki establishes a trust for the benefit of Nan, naming Obi as the trustee. The terms of the trust instrument do not expressly state the event on which Miki wishes it to terminate. The trust will end
A)when the trust's purpose is fulfilled, or becomes impossible or illegal.
B)any of the choices-whichever occurs first.
C)on the death of Nan.
D)on the death of Obi.

Question

Quizplus · Accepted Answer

Trusts typically terminate when their purpose is fulfilled, or if fulfilling the purpose becomes impossible or illegal. The termination isn't necessarily tied to the lifespan of the beneficiary (Nan) or the trustee (Obi) unless specifically stated in the trust instrument.

Miki Establishes a Trust for the Benefit of Nan, Naming