IfI make a trust out of state or out of the country?
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IfI make a trust out of state or out of the country?
I have mineral rights in N.D. and Canada and want to put them in a trust for my children and be on.
Asked on October 4, 2011 under Estate Planning, Arizona
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I think what you are concerned about here is if a trust made in the state of Arizona - which is where you write the question from - is binding on property rights in another state and country, correct? As long as the trust is valid in the state in which it is drawn and executed it is given full faith and credit in other States and countries. What may happen in the event of your death is that the executor or your estate or trustee may have to prepare an ancillary proceeding in the other state and country. The attorney should look in to what may be needed here when the trust is drawn up. Good luck.
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