(a) Whenever a person, not domiciled in this state, creates a trust
which provides that it shall be governed by the laws of this state, such
provision shall be given effect in determining the validity, effect and
interpretation of the disposition in such trust of:
(1) Any trust property situated in this state at the time the trust is
created.
(2) Personal property, wherever situated, if the trustee of the trust
is a person residing, incorporated or authorized to do business in this
state or a national bank having an office in this state.
Structure New York Laws
EPT - Estates, Powers and Trusts
Part 1 - Rules Governing Trusts
7-1.1 - When Trust Interests Not to Merge
7-1.2 - Trustee of Passive Trust Not to Take
7-1.3 - Purchase-Money Resulting Trust Abolished
7-1.4 - Purposes for Which Trust May Be Created
7-1.5 - When Trust Interest Inalienable; Exception
7-1.6 - Application of Principal to Income Beneficiary
7-1.7 - Interest Remaining in Creator of Trust
7-1.8 - Duration of Trust for Benefit of Creditors
7-1.10 - Provision by Non-Domiciliary Creator as to Law to Govern Trust
7-1.11 - Application of Principal to Creator of Trust as Reimbursement for Taxes
7-1.13 - Division of Trusts and Establishment of Separate Trusts
7-1.14 - Who May Make a Lifetime Trust
7-1.15 - What Property May Be Disposed of by Lifetime Trust
7-1.16 - Revocation of Lifetime Trust by Will
7-1.17 - Execution, Amendment and Revocation of Lifetime Trusts