{"data":{"id":"us-nc/n.c.-gen.-stat.-36c-4-402","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 36C-4-402","heading":"Requirements for creation.","body":"(a)\tA trust is created only if:\n(1)\tThe settlor has capacity to create a trust;\n(2)\tThe settlor indicates an intention to create the trust;\n(3)\tThe trust has a definite beneficiary or is:\na.\tA charitable trust;\nb.\tA trust for the care of an animal, as provided in G.S. 36C-4-408; or\nc.\tA trust for a noncharitable purpose, as provided in G.S. 36C-4-409;\n(4)\tThe trustee has duties to perform; and\n(5)\tThe same person is not the sole trustee and sole beneficiary.\n(b)\tA beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n(c)\tA 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.)","path":["Chapter 36C. North Carolina Uniform Trust Code.","Article 4. Creation, Validity, Modification, and Termination of Trust."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_36C/GS_36C-4-402.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:01:17Z","sha256":"ede77ef6219ae67822e8cb17f5074c9f376ba1944b803159c316693cbbd155ba","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-36c-4-401.2","next":"us-nc/n.c.-gen.-stat.-36c-4-403"},"notice":"GroundRules: Original legal text. Not legal advice."}