1. (a) A trust is created only if:
2. (i) The settlor has capacity to create a trust;
3. (ii) The settlor indicates an intention to create the trust;
4. (iii) The trust has a definite beneficiary or is:
   1. (A) A charitable trust;
   2. (B) A trust for the care of an animal, as provided in W.S. 4-10-409; or
   3. (C) A trust for a noncharitable purpose, as provided in W.S. 4-10-410.
5. (iv) The trustee has duties to perform; and
6. (v) The same person is not the sole trustee and sole beneficiary.

(b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to W.S. 34-1-139.

(c) A power in a trustee, trust advisor, trust protector or other party designated in the trust instrument 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.