§ 35A-1350. Declaration and gift for certain purposes authorized with approval of judge of superior court. - North Carolina Statutes

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Declaring Revocable TrustIrrevocable and Making Gift of Incompetent's Life Interest Therein.

§ 35A‑1350.  Declarationand gift for certain purposes authorized with approval of judge of superiorcourt.

When a person has created arevocable trust, reserving the income for life, and thereafter has beenjudicially declared to be incompetent, the guardian or trustee of suchincompetent, with the approval of the resident judge of the superior court ofthe district in which he was appointed, upon a duly verified petition maydeclare the trust to be irrevocable and make a gift of the life interest of theincompetent to the State of North Carolina, its agencies, counties ormunicipalities, or to the United States or its agencies or instrumentalities, orfor religious, charitable, literary, scientific, historical, medical oreducational purposes. (1963, c. 113, s. 1; 1987, c. 550, s. 6.)