(1) ORS 130.530 and 130.535 apply only to a trust, or portion of a trust:
(a) That comes into existence during the settlor’s lifetime; and
(b) Is a revocable trust on the occurrence of any of the events described in ORS 130.530 or 130.535.
(2) ORS 130.540 to 130.575 apply only to a trust, or a portion of a trust, that comes into existence during the settlor’s lifetime and that was a revocable trust at the time of the settlor’s death.