§ 36C-7-701 Accepting or declining trusteeship
§ 36C-7-702 Trustee’s bond
§ 36C-7-703 Cotrustees
§ 36C-7-704 Vacancy in trusteeship; appointment of successor
§ 36C-7-705 Resignation of trustee
§ 36C-7-706 Removal of trustee
§ 36C-7-707 Delivery of property by former trustee
§ 36C-7-708 Compensation of trustee
§ 36C-7-709 Reimbursement of expenses
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Terms Used In North Carolina General Statutes > Chapter 36C > Article 7 - Office of Trustee

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • 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  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Trustee: A person or institution holding and administering property in trust.