Section 28-73-401 - 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;(3) exercise of a power of appointment in favor of a trustee; or(4) an agent under a power of attorney that expressly grants the agent the authority to create a trust.Amended by Act 2021, No. 804,§ 3, eff. 7/28/2021.Acts 2005, No. 1031, § 1.