Source: https://dcmetrotrustcode.com/section/utc-%C2%A7-402/
Timestamp: 2019-11-21 23:30:12
Document Index: 127402549

Matched Legal Cases: ['§ 402', '§402', '§19', '§64', '§14', '§19', '§64', '§ 402', '§ 19', '§ 14', '§ 64', '§ 64', '§ 64']

UTC § 402 | DC Metro Trust Code
UTC §402, DC §19-1304.02(5), and VA §64.2-720(5) provide that a valid trust is not created if the same person is the sole trustee and the sole beneficiary. MD §14.5-402 omits this provision. Note that often a revocable trust has a sole trustee who is also the sole current beneficiary, but in most, if not all, cases, there are other remainder beneficiaries; accordingly, DC §19-1304.02(5) and VA §64.2-720.5 do not preclude revocable trusts that have one or more remainder beneficiaries.
§ 402. Requirements for creation.
§ 19-1304.02. Requirements for creation.
§ 14.5–402. Requirements.
[MISSING UTC(a)(5)]
§ 64.2-720. Requirements for creation
b. A trust for the care of an animal, as provided in § 64.2-726; or
c. A trust for a noncharitable purpose, as provided in § 64.2-727;