§44D-4-401. Methods of Creating Trust
(a) A trust may be created by: (1) Transfer of property to another person as trustee during the grantor's lifetime by the grantor or by will or by other disposition taking effect upon the grantor's death;
§44D-4-402. Requirement for Creation
(a) Except as created by an order of the court, a trust is created only if: (1) The grantor has capacity to create a trust;
§44D-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 grantor was domiciled, had a place of abode, or was a national;
§44D-4-404. 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.
§44D-4-405. 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, 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 not indicate a particular charitable purpose or beneficiary, […]
§44D-4-406. 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. As used in this section, "fraud", "duress" and "undue influence" have the same meanings for trust validity purposes as they have for purposes of determining the validity of a will.
§44D-4-407. Oral Trusts Unenforceable
Oral trusts are unenforceable in this state.
§44D-4-408. Trust for Care of Animal
(a) A trust may be created to provide for the care of an animal alive during the grantor'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 animal alive during the grantor's lifetime, upon the death of the last […]
§44D-4-409. Noncharitable Trust Without Ascertainable Beneficiary
Except as otherwise provided in section four hundred eight of this article, or by the provisions of article five-a, chapter thirty-five of this code, or by another statute, the following rules apply: (1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise […]
§44D-4-410. Modification or Termination of Trust; Proceedings for Approval or Disapproval
(a) In addition to the methods of termination prescribed by sections four hundred eleven through four hundred fourteen, article four of this chapter, 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 […]
§44D-4-411. Modification or Termination of Noncharitable Irrevocable Trust by Consent
(a) If, upon petition, the court finds that the grantor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, the court shall approve the modification or termination even if the modification or termination is inconsistent with a material purpose of the trust. A grantor's power to consent to a trust's […]
§44D-4-412. Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively
(a) The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the grantor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the grantor's probable intention. (b) The court […]
§44D-4-413. Cy Pres
(a) Except as otherwise provided in subsection (b) of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1) The charitable trust does not fail, in whole or in part;
§44D-4-414. Modification or Termination of Uneconomic Trust
(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of a noncharitable trust property having a total value less than $200,000 may terminate the trust, without the necessity of court approval, if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. (b) […]
§44D-4-415. Reformation to Correct Mistakes
The court may reform the terms of a trust, even if unambiguous, to conform the terms to the grantor's intention if it is proved by preponderance of the evidence that both the grantor's intent and the terms of the trust instrument were affected by a mistake of fact or law, whether in expression or inducement.
§44D-4-416. Modification to Achieve Grantor's Tax Objectives
To achieve the grantor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the grantor's probable intention. The court may provide that the modification has retroactive effect.
§44D-4-417. Combination and Division of Trusts
After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust.