Short Answer

In North Carolina, you can create a revocable living trust that you control by naming yourself as settlor and initial trustee and reserving the right to amend or revoke it. You can include powers for the trustee to hold and manage cryptocurrency and to own or receive life insurance proceeds. Coordinate beneficiary designations (e.g., naming the trust) and use a pour-over will for anything left outside the trust. A revocable trust does not shield your assets from your own creditors under North Carolina law.

Understanding the Problem

In North Carolina, how do you set up a revocable living trust you control to manage your crypto and life insurance, use a pour-over will to catch anything outside the trust, and still keep the ability to access or borrow against assets, especially when you don’t yet have a will or power of attorney?

Apply the Law

Under North Carolina’s trust law, a revocable living trust is a private, written agreement where you (the settlor) can also serve as the initial trustee, keep full control, and change or revoke the trust at any time. The trust should clearly authorize the trustee to secure and transact in digital assets (including exchanges and wallets) and to handle life insurance (own, receive proceeds, borrow, or assign as permitted). No court filing is required to create or maintain a revocable trust; after death, any pour-over will is probated by the Clerk of Superior Court in the county of residence.

Key Requirements

• Clear creation and control: A signed trust agreement naming you as settlor and initial trustee, with explicit power to amend or revoke.
• Defined beneficiaries and trustee duties: Identify who benefits now and later; the trustee must act in good faith, keep records, and manage assets prudently.
• Crypto-specific authority and access: Express powers to hold, secure, trade, and custody digital assets; add directions and lawful access for exchanges, wallets, and keys.
• Life insurance coordination: Either (a) keep ownership and name the trust as beneficiary, or (b) transfer ownership to the trust and give the trustee power to borrow/assign, then update beneficiary designations.
• Funding and alignment: Title assets to the trust where supported; complete insurer forms; keep a current schedule of assets and a secure memo for keys and credentials.
• Know the limits: A revocable trust does not protect your assets from your own creditors during life or at death.

What the Statutes Say

• North Carolina Gen. Stat. § 36C-6-602 (Revocation or amendment) – Lets a settlor revoke or amend a revocable trust and explains methods to do so.
• North Carolina Gen. Stat. § 36C-5-505 (Creditor claims against settlor) – Trust assets remain subject to the settlor’s creditors for a revocable trust.
• North Carolina Gen. Stat. § 36C-9-902 (Prudent investor rule) – Requires trustees to invest and manage assets prudently given the trust’s purposes.
• North Carolina Gen. Stat. § 36C-10-1013 (Certification of trust) – Allows giving institutions a summary certificate instead of the full trust.

Analysis

Apply the Rule to the Facts: You can sign a revocable trust naming yourself as trustee and reserving amendment and revocation rights, so you keep control. For life insurance, if you want to borrow against the policy personally, keep ownership in your name and name the trust as primary beneficiary; if you prefer the trustee to manage loans and assignments, transfer ownership to the trust and include express powers. For crypto, add detailed trustee powers for digital assets and lawful access instructions, then title or custody assets in a way the exchange or custodian recognizes. Because you have no will or power of attorney yet, add a pour-over will to sweep unfunded assets to the trust at death and sign a durable power of attorney that authorizes trust funding if you become incapacitated.

Process & Timing

1. Who files: No court filing is needed to create the trust. Where: Execute documents in North Carolina. What: Revocable Trust Agreement (with digital asset and insurance powers), Pour-Over Will, Durable Power of Attorney, Health Care directives, and a digital-asset access authorization. When: As soon as practical while you have capacity.
2. Fund the trust and align designations: submit insurer change-of-beneficiary (and, if desired, ownership) forms naming the trust; retitle supported accounts to the trust or open trust accounts; prepare a secure crypto inventory (wallets, exchanges, seed phrases, multisig instructions) and select appropriate custody (e.g., institutional or hardware) consistent with the trust.
3. Institutional coordination and records: provide a Certification of Trust to insurers, banks, or custodians as needed; keep annual trust records and update your asset schedule and digital-asset memo; store originals and seed phrases securely; review the plan yearly.

Exceptions & Pitfalls

• A revocable trust is not asset protection from your own creditors; do not rely on it for liability shielding.
• Crypto custody risks: lost keys or poor documentation can permanently defeat access; use clear instructions, secure backups, and vetted custody solutions.
• Prudent investing applies to crypto’s volatility; consider trust language authorizing retention of concentrated or volatile positions and documenting your risk tolerance.
• Institutional limits: some exchanges don’t support trust titling; confirm options and authorize trustee access under applicable digital-asset laws.
• Life insurance coordination: loans reduce death benefits; ensure beneficiary designations point to the trust and reflect your minor-beneficiary plan.
• Notice and reporting: trustees must keep records and provide information to qualified beneficiaries; plan for a capable successor trustee.

Talk to a Estate Planning Attorney

If you’re setting up a revocable trust for crypto and life insurance and want to keep control while avoiding probate, our firm has experienced attorneys who can help you understand your options and timelines. Call us today at .

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.