18-B M.R.S. §401: Methods of creating trust

A trust may be created by:

1. Transfer of property. Transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;

2. Declaration. Declaration by the owner of property that the owner holds identifiable property as trustee; or

3. Exercise of power. Exercise of a power of appointment in favor of a trustee.