Full question:
Wills in NC must have two signatures and be notarized to be enacted. Is the procedure the same for a revocable trust or is there a recording of the trust?
- Category: Trusts
- Date:
- State: North Carolina
Answer:
In North Carolina, there are no formal signing requirements for a revocable trust. However, some courts may allow a notice of trust or related document to be filed at the courthouse. It’s advisable to contact the courthouse’s Probate Division for guidance.
A revocable trust should be recorded in the office of the clerk of the circuit court in the county where any real property affected by the trust is located. According to North Carolina statute § 36C-4-402, a trust is created if:
- The settlor has the capacity to create a trust;
- The settlor indicates an intention to create the trust;
- The trust has a definite beneficiary or is a charitable trust, a trust for the care of an animal, or a trust for a noncharitable purpose;
- The trustee has duties to perform; and
- The same person is not the sole trustee and sole beneficiary.
A beneficiary is considered definite if they can be identified now or in the future, subject to any applicable rules against perpetuities. A trustee can have the power to select a beneficiary from an indefinite class, but if this power is not exercised within a reasonable time, it fails, and the property passes to those who would have inherited it without the power.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.