§ 36C-6-601 Capacity of settlor of revocable trust
§ 36C-6-602 Revocation or amendment of revocable trust
§ 36C-6-602.1 Exercise of settlor’s powers with respect to revocable trust by agent or guardian
§ 36C-6-603 Settlor’s control of revocable trust
§ 36C-6-604 Limitation on action contesting validity of revocable trust; distribution of trust property
§ 36C-6-605 Failure of disposition of property of a trust by lapse or otherwise
§ 36C-6-606 Revocation of provisions in revocable trust by divorce or annulment; revival
§ 36C-6-607 Modification or termination of a revocable trust
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Terms Used In North Carolina General Statutes > Chapter 36C > Article 6 - Revocable Trusts

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Trustee: A person or institution holding and administering property in trust.