Wash. Rev. Code § 11.98.011

Current through 3/29/2024
Section 11.98.011 - Trust creation-Requirements
(1) A trust is created only if:
(a) The trustor has capacity to create a trust;
(b) The trustor indicates an intention to create the trust;
(c) The trust has a definite beneficiary or is:
(i) A charitable trust;
(ii) A trust for the care of an animal, as provided in chapter 11.118 RCW; or
(iii) A trust for a noncharitable purpose, as provided in RCW 11.98.015;
(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, except to the extent that the trustee may distribute trust property to himself or herself. 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.

RCW 11.98.011

Added by 2011 c 327,§ 16, eff. 1/1/2012.

Application-Effective date- 2011 c 327: See notes following RCW 11.103.020.