What rule defines when a class gift closes?

The Rule of Convenience is the principle that determines when a class gift closes. This rule asserts that a class gift (a gift made to a group of people, such as "my children") is generally considered to close at the time of distribution, which typically occurs at the death of the testator. This means that any member of the class who is in existence at that point can receive a share, while those who are not alive or otherwise eligible at that time will not be included.

The Rule of Convenience allows for flexibility in class gifts, accommodating members that may be born or come into the class after the testator's death but before the distribution occurs. It allows the testator's intentions regarding the distribution of the gift to be more clearly realized, as the class can effectively adjust until a definitive time of distribution is reached.

While the other options mention important legal concepts, they do not specifically address the timing and conditions under which a class gift closes. Recognizing this rule is crucial in understanding the intricacies of how gifts are structured and distributed in estate planning.