A trust may be created by:

1. (1) transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;
2. (2) declaration by the owner of property that the owner holds identifiable property as trustee;
3. (3) exercise of a power of appointment in favor of a trustee; or
4. (4) a court under section 475.092, 475.093, or 511.030, or 42 U.S.C. Section 1396p(d)(4).

(L. 2004 H.B. 1511, A.L. 2006 S.B. 892)