Me. Rev. Stat. » Title 18-B
Maine Revised Statutes

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

Requirements for creation

✓ current as of May 2026
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1.  Requirements.  A trust is created only if:  
A. The settlor has capacity to create a trust;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
B. The settlor indicates an intention to create the trust;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
C. The trust has a definite beneficiary or is:  
(1) A charitable trust;  
(2) A trust for the care of an animal, as provided in section 408; or  
(3) A trust for a noncharitable purpose, as provided in section 409;   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
D. The trustee has duties to perform; and   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
E. The same person is not the sole trustee and sole beneficiary.   [PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
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.  
[PL 2003, c. 618, Pt. A, §1 (NEW); PL 2003, c. 618, Pt. A, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF).
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Notes of Decisions
Cited in 4 cases, 2006–2010 · leading case: Welch v. Crow, 2009 OK 20 (Okla. 2009).
Sort: Relevance Newest Treatment
Welch v. Crow, 2009 OK 20 (Okla. 2009). · cites it 2× “§ 58a-402 (2009); Me. Rev.Stat. Ann. tit. 18-B, § 402 (2009); Mo.”
Dalton v. Comm'r, 135 T.C. 393 (Tax Ct. 2010). · cites it 2× “the settlor indicates an intention to create the trust C. the trust has a definite beneficiary * * * * * * * D.”
Est. of Fournier, 966 A.2d 885 (Me. 2009). “18-B M.R.S. § 402. Thus, in the instant matter, it was Flanigan’s burden to prove at the second trial that (1) Fournier had the capacity to create a trust, (2) Fournier intended to create a trust, (3) Fournier named one or more definite beneficiaries of the trust, (4) Fournier…”
Est. of Fournier, 902 A.2d 852 (Me. 2006). · cites it 3× “Title 18-B M.R.S. § 402(1) (2005) provides, in pertinent part: A trust is created only if: A.”
— Me. Rev. Stat. tit. 18-B, § 402(1) — 1 case
Est. of Fournier, 902 A.2d 852 (Me. 2006). “Title 18-B M.R.S. § 402(1) (2005) provides, in pertinent part: A trust is created only if: A.”
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