{"data":{"id":"us-il/760-ilcs-3-402","jurisdiction":"us-il","citation":"760 ILCS 3/402","heading":"Requirements for creation.","body":"(a) A trust is created only if:\n(1) the settlor or other person creating the trust has capacity to create a trust;\n(2) the settlor or other person creating the trust indicates an intention to create the trust;\n(3) the trust has a definite beneficiary or is:\n(A) a charitable trust;\n(B) a trust for the care of an animal, as provided in Section 408; or\n(C) a trust for a noncharitable purpose, as provided in Section 409;\n(4) the trustee has duties to perform; and\n(5) the same person is not the sole trustee and sole beneficiary.\n(b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n(c) 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":["CHAPTER 760 TRUSTS AND FIDUCIARIES","Illinois Trust Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4001\u0026ChapterID=61\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:44Z","sha256":"0ba69e93d2ff3ace252913ac295547d89e20d46746b913e0101df4020d3f6992","source_id":"us-il","stale":false,"prev":"us-il/760-ilcs-3-401","next":"us-il/760-ilcs-3-403"},"notice":"GroundRules: Original legal text. Not legal advice."}