Kentucky Statutes 386B.1-050 – Governing law
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The meaning and effect of the terms of a trust governed by this chapter are determined by: (1) The law of the jurisdiction designated in the terms unless the designation of that
jurisdiction’s law is contrary to a strong public policy of the jurisdiction having the
most significant relationship to the matter at issue; or
(2) In the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
Effective: July 15, 2014
History: Created 2014 Ky. Acts ch. 25, sec. 5, effective July 15, 2014.
jurisdiction’s law is contrary to a strong public policy of the jurisdiction having the
Terms Used In Kentucky Statutes 386B.1-050
- 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.
- Terms of a trust: means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding. 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
most significant relationship to the matter at issue; or
(2) In the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
Effective: July 15, 2014
History: Created 2014 Ky. Acts ch. 25, sec. 5, effective July 15, 2014.