Answer to Question 1
TRUE
Answer to Question 2
A trust ends: (a) on the date indicated by the grantor; (b) if the trust is revocable, when the grantor revokes it, or if the trust is irrevocable and the grantor and all the beneficiaries agree to revoke it or if the grantor is dead; (c) when the purpose of the trust has been fulfilled; or (d) the Rule Against Perpetuities comes into effect. The Rule Against Perpetuities provides that a trust must end within 21 years of the death of some named person who is alive when the trust is created. However, nearly half of the states now permit dynasty or perpetual trusts that last forever.