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Does a trust have to be administered in the state where it was created?
Anonymous1 views1 answers
My parents decided to create a revocable trust. My dad died in 2004 my mom is close to death; I am the trustee as well as the executer of her will. she lives in FL; I live in CO.
The answer depends upon a couple of things. Generally speaking, the revocable living trust is located where trustmaker is located. That means, while your mother is alive, the trust is a Florida trust. Then, after her death, the location of the trust generally moves to where the trustee resides. That means, after your mother's death, the trust administration moves to Colorado.
That being said, there are times when the general rules don't apply. The general rules don't apply if the trust states that the administration must take place in a certain state. In addition, the general rules may not apply if the law of the state of Florida, or where the trust was written, says otherwise.
I would recommend that you see an estate planning attorney in you area. Have the attorney read the trust and tell you about the administration laws in Florida and Colorado.