Legal Question in Wills and Trusts in New Jersey
Hello LawGuru,
If I want to establish a life insurance trust for estate planning, and my chosen trustee lives in Lakewood, NJ but I live in Brooklyn, NY, can I still establish the trust with New York as the State of Jurisdiction? Or does the State of Jurisdiction have to be the state in which the trustee lives?
Furthermore, if the contact address of the trust is in New Jersey, can I still have the trust governed by the State of New York?
Many thanks!!!!!!!
Libby Kramer
1 Answer from Attorneys
Yes, you can establish governing law using a State other than where the Trustee resides. I do this frequently for clients who live in neighboring states, where they want me to be a co-trustee. All that is required is that there be some connection between the State whose law you want to control and the Trust. The fact you live in NY gives you the necessary connection.
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