What are the main requirements that must be present in order to create a valid trust?
There are a number of requirements to have a trust, which might include:
In most instances the trust will be evidenced by a written signed document, called a trust agreement. If there is no written signed agreement, state law in your state may permit an oral trust. In some instances the courts will impose an equitable or constructive trust over property.
All the above being said, you must consult state law (or the laws of the country) where the trust is formed to determine the minimum requirements. Minimum requirements aside if you are planning a trust transaction, the objective should be to meet the grantor's goals, not merely being able to satisfy the minimum requirements of state law.
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