{"data":{"id":"us-me/18-b-m.r.s.-402","jurisdiction":"us-me","citation":"18-B M.R.S. §402","heading":"Requirements for creation","body":"1.  Requirements.  A trust is created only if:\nA.  The settlor has capacity to create a trust;\nB.  The settlor indicates an intention to create the trust;\nC.  The trust has a definite beneficiary or is:\n(1)  A charitable trust;\n(2)  A trust for the care of an animal, as provided in section 408; or\n(3)  A trust for a noncharitable purpose, as provided in section 409;\nD.  The trustee has duties to perform; and\nE.  The same person is not the sole trustee and sole beneficiary.\n2.  Definite beneficiary.  A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n3.  Power to select beneficiary; failure of power.  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 18-B: TRUSTS","PART 1: MAINE UNIFORM TRUST CODE","CHAPTER 4: CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST"],"source_url":"https://legislature.maine.gov/statutes/18-B/title18-Bsec402.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:29Z","sha256":"841fa2947a301983dc6f29cbfb327d8f5b27a220a841f8238fc9a7345abe1e5b","source_id":"us-me","stale":false,"prev":"us-me/18-b-m.r.s.-401","next":"us-me/18-b-m.r.s.-403"},"notice":"GroundRules: Original legal text. Not legal advice."}