Section 19-3B-402 - Requirements for creation(a) A trust is created only if:(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:(B) a trust for the care of an animal, as provided in Section 19-3B-408; or(C) a trust for a noncharitable purpose, as provided in Section 19-3B-409;(4) the trustee has duties to perform; and(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 to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, then 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.Ala. Code § 19-3B-402 (1975)
Act 2006-216, p. 314, §1.