Creation, Validity,Modification, and Termination of Trust.
§ 36C‑4‑401. Methods of creating trust.
A trust may be created by anyof the following methods:
(1) Transfer of propertyby a settlor to a person as trustee during the settlor's lifetime or by will orother disposition taking effect upon the settlor's death including either ofthe following:
a. The devise orbequest to the trustee of the trust as provided in G.S. 31‑47.
b. The designation ofthe trust as beneficiary of life insurance or other death benefits as providedin G.S. 36C‑4‑401.1.
(2) Declaration by theowner of property that the owner holds identifiable property as trustee unlessthe transfer of title of that property is otherwise required by law.
(3) Exercise of a powerof appointment in favor of a trustee.
(4) A court by judgment,order, or decree, including the establishment of a trust pursuant to section1396p(d)(4) of Title 42 of the United States Code. (2005‑192, s. 2; 2007‑106,s. 14; 2009‑267, s. 2.)
Creation, Validity,Modification, and Termination of Trust.
§ 36C‑4‑401. Methods of creating trust.
A trust may be created by anyof the following methods:
(1) Transfer of propertyby a settlor to a person as trustee during the settlor's lifetime or by will orother disposition taking effect upon the settlor's death including either ofthe following:
a. The devise orbequest to the trustee of the trust as provided in G.S. 31‑47.
b. The designation ofthe trust as beneficiary of life insurance or other death benefits as providedin G.S. 36C‑4‑401.1.
(2) Declaration by theowner of property that the owner holds identifiable property as trustee unlessthe transfer of title of that property is otherwise required by law.
(3) Exercise of a powerof appointment in favor of a trustee.
(4) A court by judgment,order, or decree, including the establishment of a trust pursuant to section1396p(d)(4) of Title 42 of the United States Code. (2005‑192, s. 2; 2007‑106,s. 14; 2009‑267, s. 2.)
Creation, Validity,Modification, and Termination of Trust.
§ 36C‑4‑401. Methods of creating trust.
A trust may be created by anyof the following methods:
(1) Transfer of propertyby a settlor to a person as trustee during the settlor's lifetime or by will orother disposition taking effect upon the settlor's death including either ofthe following:
a. The devise orbequest to the trustee of the trust as provided in G.S. 31‑47.
b. The designation ofthe trust as beneficiary of life insurance or other death benefits as providedin G.S. 36C‑4‑401.1.
(2) Declaration by theowner of property that the owner holds identifiable property as trustee unlessthe transfer of title of that property is otherwise required by law.
(3) Exercise of a powerof appointment in favor of a trustee.
(4) A court by judgment,order, or decree, including the establishment of a trust pursuant to section1396p(d)(4) of Title 42 of the United States Code. (2005‑192, s. 2; 2007‑106,s. 14; 2009‑267, s. 2.)
