(2) The settlorindicates an intention to create the trust;
(3) The trust has adefinite beneficiary or is:
a. A charitable trust;
b. A trust for the careof an animal, as provided in G.S. 36C‑4‑408; or
c. A trust for anoncharitable purpose, as provided in G.S. 36C‑4‑409;
(4) The trustee hasduties to perform; and
(5) The same person isnot the sole trustee and sole beneficiary.
(b) A beneficiary isdefinite if the beneficiary can be ascertained now or in the future, subject toany applicable rule against perpetuities.
(c) A power in atrustee to select a beneficiary from an indefinite class is valid. If the poweris not exercised within a reasonable time, the power fails, and the propertysubject to the power passes to the persons who would have taken the propertyhad the power not been conferred. (2005‑192, s. 2.)
(2) The settlorindicates an intention to create the trust;
(3) The trust has adefinite beneficiary or is:
a. A charitable trust;
b. A trust for the careof an animal, as provided in G.S. 36C‑4‑408; or
c. A trust for anoncharitable purpose, as provided in G.S. 36C‑4‑409;
(4) The trustee hasduties to perform; and
(5) The same person isnot the sole trustee and sole beneficiary.
(b) A beneficiary isdefinite if the beneficiary can be ascertained now or in the future, subject toany applicable rule against perpetuities.
(c) A power in atrustee to select a beneficiary from an indefinite class is valid. If the poweris not exercised within a reasonable time, the power fails, and the propertysubject to the power passes to the persons who would have taken the propertyhad the power not been conferred. (2005‑192, s. 2.)
(2) The settlorindicates an intention to create the trust;
(3) The trust has adefinite beneficiary or is:
a. A charitable trust;
b. A trust for the careof an animal, as provided in G.S. 36C‑4‑408; or
c. A trust for anoncharitable purpose, as provided in G.S. 36C‑4‑409;
(4) The trustee hasduties to perform; and
(5) The same person isnot the sole trustee and sole beneficiary.
(b) A beneficiary isdefinite if the beneficiary can be ascertained now or in the future, subject toany applicable rule against perpetuities.
(c) A power in atrustee to select a beneficiary from an indefinite class is valid. If the poweris not exercised within a reasonable time, the power fails, and the propertysubject to the power passes to the persons who would have taken the propertyhad the power not been conferred. (2005‑192, s. 2.)
