A trust may be created by any of the following methods:

1. 1. Transfer of property to another person as trustee during the settlor’s lifetime, or by will taking effect upon the settlor’s death.
2. 2. Declaration by the owner of property that the owner holds property as trustee.
3. 3. Exercise of a power of appointment in favor of another person as trustee.
4. 4. A promise enforceable by the trustee to transfer property to the trustee.

99 Acts, ch 125, §8, 109 C2001, §633.2101 2005 Acts, ch 38, §54 CS2005, §633A.2101