Trust not created by will; requirements
Effective 1-1-2006.
Sec. 1.5. (a) Except as provided in subsection (b), a trust that is
not created by a will is validly created if the trust's 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
(3) any trust property is located.
(b) A valid trust must be:
(1) in writing; and
(2) signed by:
(A) the settlor; or
(B) an agent of the settlor who is an attorney in fact.
As added by P.L.238-2005, SEC.22.
Last modified: May 27, 2006