What are the requirements for naming a revocable trust ?
Full Question:
Answer:
We are not aware of any specific prohibitions or requirements for naming a trust. If you are not an attorney, you are advised to seek the advice of an attorney before using our trust forms. Many are very complex and require expert adaptation to your situation.
The following are California statutes:
§ 15200 Prob.
Subject to other provisions of this chapter, a trust may be created
by any of the following methods:
(a) A declaration by the owner of property that the owner holds the
property as trustee.
(b) A transfer of property by the owner during the owner's lifetime
to another person as trustee.
(c) A transfer of property by the owner, by will or by other
instrument taking effect upon the death of the owner, to another
person as trustee.
(d) An exercise of a power of appointment to another person as
trustee.
(e) An enforceable promise to create a trust.
§ 15204 Prob.
A trust created for an indefinite or general purpose is not invalid
for that reason if it can be determined with reasonable certainty
that a particular use of the trust property comes within that
purpose.
§ 15205 Prob.
(a) A trust, other than a charitable trust, is created only if
there is a beneficiary.
(b) The requirement of subdivision (a) is satisfied if the trust
instrument provides for either of the following:
(1) A beneficiary or class of beneficiaries that is ascertainable
with reasonable certainty or that is sufficiently described so it can
be determined that some person meets the description or is within the
class.
(2) A grant of a power to the trustee or some other person to
select the beneficiaries based on a standard or in the discretion
of the trustee or other person.
§ 15206 Prob.
A trust in relation to real property is not valid unless evidenced
by one of the following methods:
(a) By a written instrument signed by the trustee, or by the
trustee's agent if authorized in writing to do so.
(b) By a written instrument conveying the trust property signed by
the settlor, or by the settlor's agent if authorized in writing to do
so.
(c) By operation of law.