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. Added by Laws 2025, c. 254, § 20, eff. Nov. 1, 2025.