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N.C. Gen. Stat. § 36C-8B-20

Duration of second trust

Known as the North Carolina Uniform Trust Decanting Act

The act spans §§ 36C-8B-1 to 36C-8B-9 (30 sections).

2017-121, s. 1.

(a) Subject to subsection (b) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.

(b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power of alienation which apply to property of the first trust.

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.