NC S466

Authorizes creation of qualified self-settled trusts in North Carolina, allowing settlors to transfer assets to irrevocable trusts while retaining a "qualified interest" in distributions

Provides creditor protection by preventing creditors from reaching qualified interests or compelling distributions, except through fraudulent transfer actions under the Uniform Fraudulent Transfer Act

Requires qualified self-settled trusts to have at least one "qualified trustee" (a resident individual or in-state bank/trust company) who materially participates in trust administration and is not related to the settlor

Permits settlors to retain certain powers without making the trust revocable, including consent rights over distributions and investments, powers of appointment at death, and receipt of up to 5% annual distributions

Carves out exceptions allowing creditors to reach trust assets for child support, alimony, spousal support, tort judgments from pre-transfer injuries, and elective share claims by surviving spouses