§ 35-15-403. Trusts Created in Other Jurisdictions
A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation: The settlor was domiciled, had a place of abode, or was a national; A trustee was […]
§ 35-15-404. Trust Purposes
A trust may be created only to the extent its purposes are lawful and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries as the interests of such beneficiaries are defined under the terms of the trust.
§ 35-15-405. Charitable Purposes — Enforcement
A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community. If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary, the court […]
§ 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 […]
§ 35-15-401. 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 […]