Section 15-5-401 - Methods of creating trust

(1) A trust may be created by:(a) 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;(b) Declaration by the owner of property that the owner holds identifiable property as trustee;(c) Exercise of a power of appointment in favor of a trustee; or(d) A statute, judgment, or decree authorizing the creation of a trust.Added by 2018 Ch. 169, § 1, eff. 1/1/2019.L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1160, § 1, effective 1/1/2019.