Methods of creating trust.

§ 36C-4-401. Methods of creating trust. A trust may be created by any of the following methods: (1) Transfer of property by a settlor to a person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death including either of the following: a. The devise to the trustee of the trust as provided in G.S. 31-47. b. The designation of the trust as beneficiary of life insurance or other death benefits as provided in G.S. 36C-4-401.1. (2) Declaration by the owner of property that the owner holds identifiable property as trustee unless the transfer of title of that property is otherwise required by law. (3) Exercise of a power of appointment in favor of a trustee. (4) A court by judgment, order, or decree, including the establishment of a trust pursuant to section 1396p(d)(4) of Title 42 of the United States Code.