2005 Maine Code - §401 — Methods of creating trust

A trust may be created by: [2003, c. 618, Pt. A, §1 (new); §2 (aff).]

      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;[2003, c. 618, Pt. A, §1 (new); §2 (aff).]
      2. Declaration. Declaration by the owner of property that the owner holds identifiable property as trustee; or[2003, c. 618, Pt. A, §1 (new); §2 (aff).]
      3. Exercise of power. Exercise of a power of appointment in favor of a trustee.[2003, c. 618, Pt. A, §1 (new); §2 (aff).]

Section History:

PL 2003, Ch. 618, §A1 (NEW).
PL 2003, Ch. 618, §A2 (AFF).

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