Short Answer

Yes. In North Carolina, if you are the trustee of your own revocable living trust, you can access, manage, and use trust assets much like you did before funding the trust. A trustee may also borrow against or pledge trust property if the trust and lender or insurer allow it. Keep in mind: a revocable trust does not shield assets from your personal creditors, and loans against life insurance require the trust to own the policy.

Understanding the Problem

North Carolina: Can you, as the person creating a revocable trust and acting as trustee, still access and borrow against assets you place into the trust? You plan to fund crypto and a life insurance policy and use a pour-over will for anything left out. You want to retain control without losing access.

Apply the Law

Under North Carolina’s trust code, a revocable trust lets the settlor (trust creator) keep control during life, especially when the settlor also serves as trustee. Trustees have broad default powers to manage, invest, encumber, and borrow against trust assets so long as they act in good faith and follow the trust’s terms. During the settlor’s life, assets in a revocable trust remain subject to the settlor’s creditors. Most actions involving borrowing occur directly with financial institutions or insurers; no routine court filing is required during the settlor’s life.

Key Requirements

• Proper funding and titling: The asset must be titled to the trust (or assigned to it) before the trustee can use or borrow against it.
• Trustee authority: The trust should state that the trustee may borrow, pledge, or encumber assets; North Carolina law supplies broad powers if the trust is silent.
• You as trustee: If you serve as initial trustee, you retain day-to-day control; co-trustees may need to act together by default.
• Life insurance nuance: Loans against cash value require the policy owner’s authorization; the trust must be the owner (not just beneficiary) for the trustee to borrow.
• Crypto access: The trustee must have lawful possession of keys/credentials and comply with platform requirements for trust accounts.
• Creditor exposure: Because the trust is revocable, assets remain reachable by your personal creditors during life and at death to the extent allowed by law.

What the Statutes Say

• North Carolina Gen. Stat. § 36C-6-602 (Revocation or amendment of revocable trust) – Confirms revocability and the settlor’s control during life.
• North Carolina Gen. Stat. § 36C-8-816 (Specific powers of trustee) – Lists trustee powers, including borrowing and pledging property, subject to fiduciary duties and trust terms.
• North Carolina Gen. Stat. § 36C-5-505 (Creditor claims against settlor) – Provides that revocable trust assets are subject to the settlor’s creditors.
• North Carolina Gen. Stat. § 36C-10-1013 (Certification of trust) – Allows trustees to present a certification to banks/insurers instead of the full trust.

Analysis

Apply the Rule to the Facts: If you are the trustee of your revocable trust, you can access trust-held crypto and manage the wallet because trustees hold legal title and control. To borrow against the policy’s cash value, the trust must be the policy owner; naming the trust only as beneficiary does not give loan rights. Since the trust is revocable, lenders will treat you and the trust similarly for credit and will expect documentation of trustee powers.

Process & Timing

1. Who files: No court filing. Where: Work directly with the bank, insurer, or crypto platform. What: Title assets to the trust and provide a Certification of Trust (referencing trustee powers) and any institution-specific forms. When: Before moving or borrowing against assets; institutions set their own timelines.
2. For life insurance loans, confirm the trust is the policy owner; the trustee submits the insurer’s loan form and certification. Insurers typically process within days to a few weeks, depending on their requirements.
3. For crypto, ensure the exchange/custodian supports trust accounts. The trustee completes KYC/AML onboarding for the trust and maintains secure custody of keys. Outcome is an account or wallet in the trust’s name with full trustee access.

Exceptions & Pitfalls

• If the trust is only the life insurance beneficiary (not owner), the trustee cannot borrow against the policy’s cash value.
• Co-trustees often must act together by default; build in clear decision-making if you expect to move quickly.
• Revocable trust assets remain exposed to your personal creditors; do not assume asset protection.
• Crypto custody gaps (lost keys, unsupported trust accounts) can block access; document control procedures and platform acceptance in advance.
• Incapacity planning: without a durable power of attorney and named successor trustee, access to both trust and non-trust assets can stall. North Carolina law permits an agent to act for the settlor with express authority in the trust or power of attorney.

Talk to a Estate Planning Attorney

If you’re deciding how to fund a revocable trust and want to keep borrowing and access options open, our firm can help you structure the trust, handle crypto and insurance titling, and plan for incapacity. Call us today to discuss your options and timelines.

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.