Washington Code 11.98B.020 – Applicability — Principal place of administration
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(1) This chapter applies to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules:
Terms Used In Washington Code 11.98B.020
- 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: means an original, added, or successor trustee and includes the state, or any agency thereof, when it is acting as the trustee of a trust to which chapter 11. See Washington Code 11.02.005
- Trustee: A person or institution holding and administering property in trust.
(a) If the trust was created before January 1, 2021, this chapter applies only to a decision or action occurring on or after January 1, 2021.
(b) If the principal place of administration of the trust is changed to this state on or after January 1, 2021, this chapter applies only to a decision or action occurring on or after the date of the change.
(2) Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, terms of the trust which designate the principal place of administration of the trust are valid and controlling if:
(a) A trustee‘s principal place of business is located in or a trustee is a resident of the designated jurisdiction;
(b) A trust director’s principal place of business is located in or a trust director is a resident of the designated jurisdiction; or
(c) All or part of the administration occurs in the designated jurisdiction.
[ 2020 c 303 § 3.]