Section 401: Methods of creating trust
65 words·~1 min read·
/ma/part-ii/title-ii/chapter-203e/401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 401. Methods of creating trust
A trust may be created by:
(1)transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;
(2)declaration by the owner of property that the owner holds identifiable property as trustee; or
(3)exercise of a power of appointment in favor of a trustee.