Article 4.
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/nc/chapter-36c/4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Article 4.
Creation, Validity, Modification, and Termination of Trust.
§ 36C-4-401. Methods of creating trust.
A trust may be created by any of the following methods:
(1)Transfer of property by a settlor to a person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death including either of the following:
a. The devise to the trustee of the trust as provided in G.S. 31-47.
b. The designation of the trust as beneficiary of life insurance or other death benefits as provided in G.S. 36C-4-401.1.
(2)Declaration by the owner of property that the owner holds identifiable property as trustee unless the transfer of title of that property is otherwise required by law.
(3)Exercise of a power of appointment in favor of a trustee.
(4)A court by judgment, order, or decree, including the establishment of a trust pursuant to section 1396p(d)(4) of Title 42 of the United States Code. (2005-192, s. 2; 2007-106, s. 14; 2009-267, s. 2; 2011-284, s. 45.)