When the trustee and the sole beneficiary of the trust are the same person or institution. As such, the interests in the trust merge and it is owned by the beneficiary and the trust no longer exists.
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TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.
When the trustee and the sole beneficiary of the trust are the same person or institution. As such, the interests in the trust merge and it is owned by the beneficiary and the trust no longer exists.