(1) A trust may be created by: (a) 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; (b) Declaration by the owner of property that the owner holds identifiable property as trustee; (c) Exercise of a power of appointment in favor of a trustee; or (d) A statute, judgment, or decree authorizing the creation of a trust.
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