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; (3) exercise of a power of appointment in favor of a trustee; or (4) a court in the exercise of its equitable powers. (Act 2006-216, p. 314, §1.)