A trust not created by will is validly created if its 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 person creating the trust 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 was located.

Terms Used In Illinois Compiled Statutes 760 ILCS 3/403

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Trustee: A person or institution holding and administering property in trust.
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