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West Virginia Code Chapter 44D. Uniform Trust Code § 44D-4-401. Methods of creating trust

Current as of January 01, 2024 | Updated by Findlaw Staff

(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;

(2) Declaration by the owner of property that the owner holds identifiable property as trustee;

(3) Exercise of a power of appointment in favor of a trustee; or

(4) An order of the court.

(b) During the grantor's lifetime, a trust may also be created by the grantor's agent acting in accordance with authority granted under a durable power of attorney which expressly authorizes the agent to create a trust on the grantor's behalf or which expressly authorizes the agent to fund an existing trust of the grantor on the grantor's behalf.

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Cite this article: FindLaw.com - West Virginia Code Chapter 44D. Uniform Trust Code § 44D-4-401. Methods of creating trust - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-44d-uniform-trust-code/wv-code-sect-44d-4-401/

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