§ 36C-4-418 – Distribution upon termination of trust.
36C-4-418. Distribution upon termination of trust. Upon termination of a trust under G.S. 36C-4-411(a), the trustee shall distribute the trust property as agreed by the beneficiaries. Upon termination of a trust under G.S. 36C-4-411(b) or (c), the trustee shall distribute the trust property in accordance with the order entered by the court. Upon termination of […]
§ 36C-4-408 – Trust for care of animal.
36C-4-408. Trust for care of animal. (a) Subject to this section, a trust for the care of one or more designated domestic or pet animals alive at the time of creation of the trust is valid. (b) Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be […]
§ 36C-4-401.2 – Creation of trust by a court.
36C-4-401.2. Creation of trust by a court. A court may create or establish a trust by judgment or decree, including a trust pursuant to section 1396p(d)(4) of Title 42 of the United States Code, upon petition of an interested party in accordance with the provisions of this Chapter or in any other matter properly before […]
§ 36C-4-402 – Requirements for creation.
36C-4-402. Requirements for creation. (a) A trust is created only if: (1) The settlor has capacity to create a trust; (2) The settlor indicates an intention to create the trust; (3) The trust has a definite beneficiary or is: a. A charitable trust; b. A trust for the care of an animal, as provided in […]
§ 36C-4-403 – Trusts created in other jurisdictions.
36C-4-403. 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: (1) The settlor was domiciled, had a place of abode, […]
§ 36C-4-404 – Trust purposes.
36C-4-404. Trust purposes. A trust may be created only to the extent that its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries. (2005-192, s. 2.)
§ 36C-4-405 – Charitable purposes.
36C-4-405. Charitable purposes. (a) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, scientific, benevolent, literary, governmental, or municipal purposes, or other purposes the achievement of which is beneficial to the community. (b) It is the policy of the State that a gift […]
§ 36C-4-405.1 – Enforcement of charitable gift or trust.
36C-4-405.1. Enforcement of charitable gift or trust. (a) The settlor of a charitable trust, the Attorney General, the district attorney, a beneficiary, or any other interested party may maintain a proceeding to enforce a charitable trust, including the following: (1) A proceeding to require a trustee to make a selection as may be necessary to […]
§ 36C-4-405.2 – Spending rules applicable to charitable trusts.
36C-4-405.2. Spending rules applicable to charitable trusts. Subject to the intent of a settlor specifically expressed in a trust instrument, including a document making a gift to a charitable trust after it is established, a trustee of a charitable trust may appropriate for expenditure or accumulate so much of the trust property as the trustee […]
§ 36C-4-406 – Creation of trust induced by fraud, duress, or undue influence.
36C-4-406. Creation of trust induced by fraud, duress, or undue influence. A trust is voidable to the extent that its creation was induced by fraud, duress, or undue influence. (2005-192, s. 2.)