§ 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 […]
§ 35-15-409. 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 […]
§ 35-15-302. Representation by Holder of Power of Appointment — “General Power of Appointment” Defined
To the extent there is no material conflict of interest between the holder of a power of appointment and the persons represented with respect to the particular question or dispute, the holder may represent and bind persons whose interests, as permissible appointees, takers in default, or otherwise, are subject to the power. Notwithstanding this section […]
§ 35-15-303. Representation by Fiduciaries and Parents
To the extent there is no material conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: A conservator may represent and bind the estate that the conservator controls; A guardian may represent and bind the ward if a conservator of the […]