Massachusetts General Laws ch. 203E sec. 401 – Methods of creating trust
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Section 401. Methods of creating trust
Terms Used In Massachusetts General Laws ch. 203E sec. 401
- Trustee: A person or institution holding and administering property in trust.
A trust may be created by:
(1) 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 by the owner of property that the owner holds identifiable property as trustee; or
(3) exercise of a power of appointment in favor of a trustee.