North Carolina General Statutes
Article 4 - Creation, Validity, Modification, and Termination of Trust.
§ 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 G.S. 36C-4-408; or
c. A trust for a noncharitable purpose, as provided in G.S. 36C-4-409;
(4) The trustee has duties to perform; and
(5) The same person is not the sole trustee and sole beneficiary.
(b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
(c) A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails, and the property subject to the power passes to the persons who would have taken the property had the power not been conferred. (2005-192, s. 2.)

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Structure North Carolina General Statutes

North Carolina General Statutes

Chapter 36C - North Carolina Uniform Trust Code

Article 4 - Creation, Validity, Modification, and Termination of Trust.

§ 36C-4-401 - Methods of creating trust.

§ 36C-4-401.1 - Interest of trustee as beneficiary of life insurance or other death benefit sufficient to support inter vivos or testamentary trust.

§ 36C-4-401.2 - Creation of trust by a court.

§ 36C-4-402 - Requirements for creation.

§ 36C-4-403 - Trusts created in other jurisdictions.

§ 36C-4-404 - Trust purposes.