Settlor's control of revocable trust
Applied in 1 court decision — leading case Window World of Baton Rouge, LLC v. Window World, Inc.; Window World of St. Louis, Inc. v. Window World, Inc. (2017)
Most recently applied in Window World of Baton Rouge, LLC v. Window World, Inc.; Window World of St. Louis, Inc. v. Window World, Inc. (July 2017)
2005-192, s. 2; 2007-106, s. 24.
(a) While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor. If a trustee is a settlor, the trustee's actions are presumed to be taken at the direction of the settlor.
(b) If a revocable trust has more than one settlor, the duties of the trustee are owed to all of the settlors.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.