US Laws, Codes, Statutes & Cases

§ 36C‑4‑418.  Distribution upon termination of trust.

Upon termination of a trust under G.S. 36C‑4‑411, the trustee shall distribute the trust property as agreed by the beneficiaries. Upon termination of a trust under G.S. 36C‑4‑412 or G.S. 36C‑4‑414, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. If any trust property becomes distributable to a minor or incompetent under this Article, it may be distributed:

(1)       To the guardian of the estate or general guardian of the beneficiary;

(2)       In accordance with the North Carolina Uniform Transfer to Minors Act, Chapter 33A of the General Statutes; or

(3)       In accordance with the North Carolina Uniform Custodial Trust Act, Chapter 33B of the General Statutes. (1999‑266, s. 2; 2005‑192, s. 2.)