1.__Requirements.__A trust is created only if:

A.__The settlor has capacity to create a trust;

B.__The settlor indicates an intention to create the trust;

C.__The trust has a definite beneficiary or is:

(1)__A charitable trust;

(2)__A trust for the care of an animal, as provided in section 408; or

(3)__A trust for a noncharitable purpose, as provided in section 409;

D.__The trustee has duties to perform; and

E.__The same person is not the sole trustee and sole beneficiary.

2.__Definite beneficiary.__A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.

3.__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.

§403.__Trusts created in other jurisdictions

A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed or the law of the jurisdiction in which at the time of creation:

1.__Settlor.__The settlor was domiciled, had a place of abode or was a national;

2.__Trustee.__A trustee was domiciled or had a place of business; or

3.__Trust property.__Any trust property was located.

§404. Trust purposes