Maine § 18-B §402 Requirements for creation

Maine Statutes

§ 18-B §402 — Requirements for creation

Maine § 18-B §402

Title 18-BTRUSTS

Part 1MAINE UNIFORM TRUST CODE

Ch. 4CREATION, VALIDITY, MODIFICATION AND TERMINATION OF TRUST

This text of Maine § 18-B §402 (Requirements for creation) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 18-B, § 18-B §402 (2026).

Text

1.Requirements. A trust is created only if:

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.

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1.
Requirements.
A trust is created only if:
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.