Article 4.--CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST
58a-402.Requirements forcreation.(a) A trust iscreated only if:
(1) The settlor has capacity to create a trust;
(2) the settlor 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 inK.S.A. 58a-408, andamendments thereto; or
(C) a trust for a noncharitable purpose, as provided inK.S.A. 58a-409, andamendments thereto;
(4) the trustee has duties to perform; and
(5) the same person is not the sole trustee and sole beneficiary.
(b) A beneficiary is definite if the beneficiary can be ascertained now or inthe future, subjectto any applicable rule against perpetuities.
(c) A power in a trustee to select a beneficiary from an indefinite class isvalid. 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.
Article 4.--CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST
58a-402.Requirements forcreation.(a) A trust iscreated only if:
(1) The settlor has capacity to create a trust;
(2) the settlor 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 inK.S.A. 58a-408, andamendments thereto; or
(C) a trust for a noncharitable purpose, as provided inK.S.A. 58a-409, andamendments thereto;
(4) the trustee has duties to perform; and
(5) the same person is not the sole trustee and sole beneficiary.
(b) A beneficiary is definite if the beneficiary can be ascertained now or inthe future, subjectto any applicable rule against perpetuities.
(c) A power in a trustee to select a beneficiary from an indefinite class isvalid. 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.
Article 4.--CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST
58a-402.Requirements forcreation.(a) A trust iscreated only if:
(1) The settlor has capacity to create a trust;
(2) the settlor 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 inK.S.A. 58a-408, andamendments thereto; or
(C) a trust for a noncharitable purpose, as provided inK.S.A. 58a-409, andamendments thereto;
(4) the trustee has duties to perform; and
(5) the same person is not the sole trustee and sole beneficiary.
(b) A beneficiary is definite if the beneficiary can be ascertained now or inthe future, subjectto any applicable rule against perpetuities.
(c) A power in a trustee to select a beneficiary from an indefinite class isvalid. 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.
