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 the jurisdiction in which, at the time of creation:
(1) The settlor was domiciled, had a place of abode, or was a national; (2) A trustee was domiciled or had a place of business; or
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Terms Used In Kentucky Statutes 386B.4-030

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Property: means anything that may be the subject of ownership, whether legal or equitable, or any interest therein. See Kentucky Statutes 386B.1-010
  • Settlor: means a person, including a testator, who creates or contributes property to a trust. See Kentucky Statutes 386B.1-010
  • Trust: means an express trust established by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both. See Kentucky Statutes 386B.1-010
  • Trust instrument: means an instrument signed by the settlor that contains terms of the trust, including any amendments thereto. See Kentucky Statutes 386B.1-010

(3) Any trust property was located.
Effective: July 15, 2014
History: Created 2014 Ky. Acts ch. 25, sec. 25, effective July 15, 2014.

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