700.7403 Trusts created in other jurisdictions.
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700.7403 Trusts created in other jurisdictions.
Sec. 7403.
A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed or the law of a jurisdiction to which, at the time of creation, any of the following applied:
(a)The settlor was domiciled, had a place of abode, or was a national in the jurisdiction.
(b)A trustee was domiciled or had a place of business in the jurisdiction.
(c)Any trust property was located in the jurisdiction.
History: 1998, Act 386 , Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46 , Eff. Apr. 1, 2010
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