P.R. Laws tit. 32, § 3352a
The trust instrument shall specify:
(a) The date and the place where a trust is created;
(b) the express statement of the intention to create said trust;
(c) the name of the trust being created;
(d) a description of the trust property, or the portion thereof, subject to the trust. If such description is not possible at the time of constitution, a description of the requirements and characteristics of the property must be included;
(e) the designation of the person who may include other assets in the trust and, in that case, the manner in which such other assets may be included;
(f) the full and clear designation of the trustor, the trustee, and the beneficiary or substitutes thereof, if it applies. In case of future beneficiaries or types of beneficiaries, sufficient circumstances for their designation must be included;
(g) The powers and duties of the trustee and any prohibitions and limitations imposed thereon while administering the trust;
(h) any rights reserved by the trustor;
(i) the term or conditions, as the case may be, to which the trust is subject;
(j) the rules for accumulation, distribution, or disposition of the assets, income and proceeds of the trust assets; and
(k) any other clause that the trustor may wish to include; provided, that it is not contrary to the law, morality, or public order.
History —Aug. 31, 2012, No. 219, § 8.