Title 75B
Chapter 2
Part 4
Section 402
| Index | Utah Code |
| Title 75B | Trusts |
| Chapter 2 | Uniform Trust Code |
| Part 4 | Creation, Validity, Modification, and Termination of a Trust |
| Section 402 | Requirements for creation.
(Effective 5/7/2025)
|
Effective 5/7/2025
75B-2-402.
Requirements for creation.
| (1) | A trust is created only if:
| (a) | the settlor has capacity to create a trust, which standard of capacity shall be the same as for a person to create a will; |
| (b) | the settlor indicates an intention to create the trust or a statute, judgment, or decree authorizes the creation of a trust; |
| (c) | the trust has a definite beneficiary or is:
| (ii) | a trust for the care of an animal, as provided in Section 75-2-1001; or |
| (iii) | a trust for a noncharitable purpose, as provided in Section 75-2-1001; |
|
| (d) | the trustee has duties to perform; and |
| (e) | the same person is not the sole trustee and sole beneficiary. |
|
| (2) | A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities. |
| (3) | 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. |
Renumbered and Amended by Chapter
310, 2025 General Session