Montana Code 72-38-601. Capacity of settlor of revocable trust
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72-38-601. Capacity of settlor of revocable trust. The capacity required to create, amend, revoke, or add property to a revocable trust or to direct the actions of the trustee of a revocable trust is the same as that required to make a will.
Terms Used In Montana Code 72-38-601
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Settlor: means a person, including a testator, who creates or contributes property to a trust. See Montana Code 72-38-103