§ 403. Trusts created in other jurisdictions
§ 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 […]
§ 404. Trust purposes
§ 404. Trust purposes A trust may be created only to the extent 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. (Added 2009, No. 20, § 1.)
§ 405. Charitable purposes; enforcement
§ 405. Charitable purposes; enforcement (a) A charitable trust may be created for the relief of poverty; the advancement of education or religion; the promotion of health, scientific, literary, benevolent, governmental, or municipal purposes; or other purposes the achievement of which is beneficial to the community. (b) If the terms of a charitable trust do […]
§ 301. Representation; basic effect
§ 301. Representation; basic effect (a) Notice to a person who may represent and bind another person under this chapter has the same effect as if notice were given directly to the other person. (b) The consent of a person who may represent and bind another person under this chapter is binding on the person […]
§ 302. Representation by holder of general testamentary power of appointment
§ 302. Representation by holder of general testamentary power of appointment To the extent there is no conflict of interest between the holder of a general testamentary 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 […]
§ 303. Representation by fiduciaries and parents
§ 303. Representation by fiduciaries and parents To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: (1) a guardian of the property may represent and bind the estate that the guardian controls; (2) a guardian […]
§ 304. Representation by person having substantially identical interest
§ 304. Representation by person having substantially identical interest Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to […]
§ 305. Appointment of representative
§ 305. Appointment of representative (a) If the Probate Division of the Superior Court determines that an interest is not represented under this chapter, or that the otherwise available representation might be inadequate, the Probate Division of the Superior Court may appoint a representative to receive notice, give consent, and otherwise represent, bind, and act […]
§ 401. Methods of creating trust
§ 401. Methods of creating trust A trust may be created: (1) by transfer of property to another person as trustee or to the trust in the trust’s name during the settlor’s lifetime or by will or other disposition taking effect upon the settlor’s death; (2) by declaration by the owner of property that the […]
§ 402. Requirements for creation
§ 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 […]