{"data":{"id":"us-co/c.r.s.-15-5-402","jurisdiction":"us-co","citation":"C.R.S. § 15-5-402","heading":"Requirements for creation.","body":"(1) A trust is created only if:\n\n(a) Either:\n\n(I) The settlor has capacity to create a trust and indicates an intention to create a trust; or\n\n(II) A statute, judgment, or decree authorizes creation of a trust;\n\n(b) The trust has a definite beneficiary or is:\n\n(I) A charitable trust;\n\n(II) A trust for the care of an animal, as provided in section 15-5-408; or\n\n(III) A trust for a noncharitable purpose, as provided in section 15-5-409;\n\n(c) The trustee has duties to perform; and\n\n(d) The same person is not the sole trustee and sole beneficiary.\n\n(2) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n\n(3) A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.","path":["Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES","Article 5 - Colorado Uniform Trust Code","Part 4 - CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST"],"source_url":"https://olls.info/crs/crs2026-title-15.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"298c98aafa65eb53824d6a79d76173a2a2976508dbde10ca0af3aa8f3554a5c3","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-15-5-401","next":"us-co/c.r.s.-15-5-403"},"notice":"GroundRules: Original legal text. Not legal advice."}