§ 33-6-33 - Gifts to trustee of existing trust.
SECTION 33-6-33
§ 33-6-33 Gifts to trustee of existingtrust. – A devise, bequest, or appointment in a will validly executed under theprovisions of this chapter may be made in form or substance to the trustee ortrustees of a trust in writing executed by the testator or any other person orpersons prior to and in existence at the time of the execution of the will, andidentified in the will, whatever the size or character of the corpus of thetrust (including an unfounded life insurance trust, although the settlor hasreserved any or all rights of ownership in the insurance policies). A devise,bequest, or appointment shall not be invalid because the trust is amendable orrevocable, or both, by the settlor or any other person or persons; nor becausethe trust instrument or any amendment thereto was not executed in the mannerrequired for wills; nor because the trust was amended after the execution ofthe will. Unless the will provides otherwise, the property so devised,bequeathed or appointed shall not be deemed held under a testamentary trust,but shall become and be a part of the principal of the trust to which it isgiven to be administered and disposed of in accordance with the terms andprovisions of the trust to which it is given, including any amendments, as itappears in writing at the death of the testator. In the event of completetermination of the trust prior to the testator's death, the devise or bequestshall lapse and the appointment fail unless the will directs otherwise.