§ 36C-6-602. Revocation or amendment of revocable trust. - North Carolina Statutes

§ 36C‑6‑602. Revocation or amendment of revocable trust.

(a)        Unless the terms ofa trust expressly provide that the trust is irrevocable, the settlor may revokeor amend the trust without regard to the actual capacity of the settlor. Thissubsection does not apply to a trust created under an instrument executedbefore the effective date of this Chapter.

(b)        If a revocabletrust is created or funded by more than one settlor:

(1)        To the extent thetrust consists of community property, the trust may be revoked by either spouseacting alone but may be amended only by joint action of both spouses; and

(2)        To the extent thetrust consists of property other than community property, each settlor mayrevoke or amend the trust with regard to the portion of the trust propertyattributable to that settlor's contribution.

(c)        The settlor mayrevoke or amend a revocable trust:

(1)        By substantialcompliance with a method provided in the terms of the trust; or

(2)        If the terms of thetrust do not provide a method or the method provided in the terms is notexpressly made exclusive, by:

a.         A later will orcodicil that expressly refers to the trust or specifically devises propertythat would otherwise have passed according to the terms of the trust; or

b.         By oral statement tothe trustee if the trust was created orally; or

c.         Any other writtenmethod delivered to the trustee manifesting clear and convincing evidence ofthe settlor's intent.

(d)        Upon revocation ofa revocable trust, the trustee shall deliver the trust property as the settlordirects.

(e)        Repealed by SessionLaws 2007‑106, s. 21, effective October 1, 2007.

(f)         Repealed bySession Laws 2007‑106, s. 22, effective October 1, 2007.

(g)        A trustee who doesnot know that a trust has been revoked or amended is not liable to the settloror settlor's successors in interest for distributions made and other actionstaken on the assumption that the trust had not been amended or revoked. (2005‑192, s. 2; 2007‑106,ss. 21, 22.)