Requirements for creation

701.0402 Requirements for creation. (1) A trust is created only if all of the following are satisfied: (a) The settlor of the trust has capacity, as defined in sub. (4), to create the trust, unless the trust is created by court order or by an agent, guardian of the estate, conservator, or representative payee with authority to act. (b) The settlor indicates an intention to create the trust; or a statute, regulation, common law, other provision having the effect of law, judgment, or decree creates or authorizes the creation of a trust. (c) The trust has a definite beneficiary or is one of the following: