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Old June 26, 2011, 10:05 PM   #7
The Law
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Join Date: February 20, 2007
Location: Las Vegas, NV
Posts: 73
Quote:
Check me on this, The Law, but I believe a trust has to be established under the laws of the state that it is in and is considered like a corporation registered in that state.
Jim, that may very well be true, dependent on the state. There is no trust registration in Nevada, so that similarity with corps. doesn't exist here. A Nevada trust remains so, but may need changes to be recognized in another jurisdiction. Since I am only licensed in Nevada, I cannot really opine on another state's trust requirements/recognition.

I like to err on the side of caution and recommend to anyone relocating out of state to at least have a local attorney review their trust. Amendments may not be necessary, but you never know. For the most part, laws regarding trusts are fairly universal, with only some states having nuanced differences.
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