Arizona § 14-10402 Requirements for creation

Arizona Statutes

§ 14-10402 — Requirements for creation

Arizona § 14-10402

Title 14Arizona Revised Statutes

Ch. 11ARIZONA TRUST CODE

Art. 4Creation, Validity, Modification and Termination of Trust

This text of Arizona § 14-10402 (Requirements for creation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 14-10402 (2026).

Text

A. Except as provided in section 14-5409, a trust is created only if all of the following are true: 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 in section 14-10408.

(c)A trust for a noncharitable purpose, as provided in section 14-10409. 4. The trustee has duties to perform. 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 in the future, subject to any applicable rule against perpetuities. C. A power in a trustee or other person to select a beneficiary from an indefinite class is valid. If the power is not ex

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A. Except as provided in section 14-5409, a trust is created only if all of the following are true:

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 in section 14-10408.

(c) A trust for a noncharitable purpose, as provided in section 14-10409.

4. The trustee has duties to perform.

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 in the future, subject to any applicable rule against perpetuities.

C. A power in a trustee or other person 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.