Vt. Stat. Ann. tit. 14A, § 401
Methods of creating trust
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A trust may be created:
A trust may be created:
(1) by transfer of property to another person as trustee or to the trust in the trust's name during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;
(1) by transfer of property to another person as trustee or to the trust in the trust’s name during the settlor’s lifetime or by will or other disposition taking effect upon the settlor’s death;
(2) by declaration by the owner of property that the owner holds identifiable property as trustee;
(2) by declaration by the owner of property that the owner holds identifiable property as trustee;
(3) by exercise of a power of appointment in favor of a trustee;
(3) by exercise of a power of appointment in favor of a trustee;
(4) pursuant to a statute or judgment or decree that requires property to be administered in the manner of an express trust;
(4) pursuant to a statute or judgment or decree that requires property to be administered in the manner of an express trust;
(5) by an agent or attorney-in-fact under a power of attorney that expressly grants authority to create the trust; or (5) (A) by an agent or attorney-in-fact under a power of attorney that expressly grants authority to create the trust; or
(5) by an agent or attorney-in-fact under a power of attorney that expressly grants authority to create the trust; or (5) (A) by an agent or attorney-in-fact under a power of attorney that expressly grants authority to create the trust; or
(6) by an agent or attorney-in-fact under a power of attorney that grants the agent or attorney-in-fact the authority to act in the management and disposition of the principal’s property that is as broad or comprehensive as the principal could exercise for himself or herself and that does not expressly exclude the authority to create a trust, provided that any trust so created does not include any authority or powers that are otherwise prohibited by 14 V.S.A. § 3504. An agent or attorney-in-fact may petition the Probate Division of the Superior Court to determine whether a power of attorney described in this subdivision grants the agent or attorney-in-fact authority that is as broad or comprehensive as that which the principal could exercise for himself or herself. Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. Feb. 1, 2011.
(6) by an agent or attorney-in-fact under a power of attorney that grants the agent or attorney-in-fact the authority to act in the management and disposition of the principal’s property that is as broad or comprehensive as the principal could exercise for himself or herself and that does not expressly exclude the authority to create a trust, provided that any trust so created does not include any authority or powers that are otherwise prohibited by 14 V.S.A. § 3504. An agent or attorney-in-fact may petition the Probate Division of the Superior Court to determine whether a power of attorney described in this subdivision grants the agent or attorney-in-fact authority that is as broad or comprehensive as that which the principal could exercise for himself or herself.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.