{"data":{"id":"us-va/va.-code-64.2-720","jurisdiction":"us-va","citation":"Va. Code § 64.2-720","heading":"Requirements for creation","body":"A. A trust is created only if:1. The settlor has capacity to create a trust; or when the trust is created by the settlor's agent under a power of attorney, which expressly authorizes the agent to create a trust on the settlor's behalf;2. The settlor or his agent indicates an intention to create the trust;3. The trust has a definite beneficiary or is:a. A charitable trust;b. A trust for the care of an animal, as provided in § 64.2-726; orc. A trust for a noncharitable purpose, as provided in § 64.2-727;4. The trustee has duties to perform; and5. The same person is not the sole trustee and sole beneficiary.B. A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.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.2005, c. 935, § 55-544.02; 2010, cc. 455, 632; 2012, c. 614.","path":["Title 64.2. WILLS, TRUSTS, AND FIDUCIARIES","Subtitle III. TRUSTS","Chapter 7. UNIFORM TRUST CODE","Article 4. CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST"],"source_url":"https://law.lis.virginia.gov/vacode/64.2-720/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:18:14Z","sha256":"0bac5cd4e904657d5bfc43d5995eae4141fe91ff64d1b2a80299023dccab9867","source_id":"us-va","stale":true,"prev":"us-va/va.-code-64.2-719","next":"us-va/va.-code-64.2-721"},"notice":"GroundRules: Original legal text. Not legal advice."}