{"data":{"id":"us-ky/krs-386b.4-020","jurisdiction":"us-ky","citation":"KRS 386B.4-020","heading":"Requirements for creation.","body":"(1) A trust is created only if:\n(a) The settlor has capacity to create a trust;\n(b) The settlor indicates an intention to create the trust;\n(c) The trust has a definite beneficiary or is:\n1. A charitable trust;\n2. A trust for the care of an animal under KRS 386B.4-080; or\n3. A trust for a noncharitable purpose under KRS 386B.4-090;\n(d) The trustee has duties to perform; and\n(e) The same person is not the sole trustee and sole beneficiary.\n(2) A power in a trustee to select a beneficiary from an indefinite class is valid. If the\npower is not e xercised within a reasonable time, the power fails and the property\nsubject to the power passes to the persons who would have taken the property had\nthe power not been conferred.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43087","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"9e6625122b6a1cf1ae7a80e8b4be8c820fb078aff8f1d2a35d5ad94503ff77f6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.4-010","next":"us-ky/krs-386b.4-030"},"notice":"GroundRules: Original legal text. Not legal advice."}