elements of a valid trust: settlor's capacity, intent, trustee, res (trust property), an inter vivid transfer, identifiable beneficiary, proper purpose, SOF/statute of wills if necessary
trust modification depends on if settlor or beneficiaries are modifying trust (see page 288 for detail)
Trust provision topics that come up on bar: spendthrift (beneficiary cannot voluntary or involuntary transfer trust interests) and discretionary provisions (provision vests additional powers with trustee to decide when to distribute income of the trust)