(a) A trust may be created by:
(1) Transfer of property to another person as trustee during the grantor's lifetime by the grantor or by will or by other disposition taking effect upon the grantor's death;
(2) Declaration by the owner of property that the owner holds identifiable property as trustee;
(3) Exercise of a power of appointment in favor of a trustee; or
(4) An order of the court.
(b) During the grantor's lifetime, a trust may also be created by the grantor's agent acting in accordance with authority granted under a durable power of attorney which expressly authorizes the agent to create a trust on the grantor's behalf or which expressly authorizes the agent to fund an existing trust of the grantor on the grantor's behalf.