§ 35-15-406. Creation of Trust Induced by Fraud, Duress, or Undue Influence
A trust is void to the extent its creation was induced by fraud, duress, or undue influence.
§ 35-15-407. Evidence of Oral Trust
Except as required by a statute other than this chapter, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and its terms may be established only by clear and convincing evidence.
§ 35-15-408. Trust for Care of Animal
A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one (1) animal alive during the settlor’s lifetime, upon the death of the last […]
§ 35-15-409. Noncharitable Trust Without Ascertainable Beneficiary
Except as otherwise provided in § 35-15-408 or by another statute, the following rules apply: A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than ninety […]
§ 35-15-410. Modification or Termination of Trust — Proceedings for Approval or Disapproval
In addition to the methods of termination prescribed by §§ 35-15-411 — 35-15-414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful or impossible to achieve. A proceeding to approve […]
§ 35-15-411. Modification or Termination of Noncharitable Irrevocable Trust by Consent
During the settlor’s lifetime, a noncharitable irrevocable trust may be modified or terminated by the trustee upon consent of all qualified beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust if the settlor does not object to the proposed modification or termination. The trustee shall notify the settlor […]
§ 35-15-401. Methods of Creating Trust
A trust may be created by: The 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; The declaration by the owner of property that the owner holds identifiable property as trustee; The exercise of a power of appointment in favor […]