{"data":{"id":"us-vt/14a-v.s.a.-402","jurisdiction":"us-vt","citation":"14A V.S.A. § 402","heading":"Requirements for creation","body":"(a) A trust is created only if:\n(1) the settlor has capacity to create a trust;\n(2) the settlor 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 of this title; or\n(C) a trust for a noncharitable purpose, as provided in section 409 of this title;\n(4) the trustee has duties to perform; and\n(5) the same person is not the sole trustee and sole beneficiary of all beneficial interests.\n(b) A settlor is deemed to have the capacity to create a trust if:\n(1) the trust is created by an agent of the settlor under a power of attorney as described in subdivision 401(5) of this title; and\n(2) the settlor had capacity to create a trust at the time the power of attorney was executed.\n(c) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n(d) 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 14A: Trusts","Chapter 004: Creation, Validity, Modification, and Termination of Trust"],"source_url":"https://legislature.vermont.gov/statutes/section/14A/004/00402","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T17:16:59Z","sha256":"d02108be45544d0f18c8f25d636349c133f9032ba1588f8f41beab1329ee49a7","source_id":"us-vt","stale":false,"prev":"us-vt/14a-v.s.a.-401","next":"us-vt/14a-v.s.a.-403"},"notice":"GroundRules: Original legal text. Not legal advice."}