Since the Trust holds legal and equitable title to all Trust assets, the death of anyone connected with the Trust, such as Trustees, Beneficiaries, or Managing Directors, is irrelevant. The Trust continues on, perhaps with a new Managing Director. Think of the Trust as a horse with the Managing Director as a rider. If the rider dies, you don't destroy the horse. You just get a new rider. The same thing happens with the Trust.
Copyright at Common Law, West El Paso Information Network, 1997