§ 3332 — Governing law; change of situs [For application of this section, see 80 Del. Laws, c. 153, § 5]

Delaware § 3332

• Jurisdiction: Delaware
• Title: 12
• Part: Fiduciary Relations
• Ch. 33: ADMINISTRATIVE PROVISIONS

Text

(a) The duration of a trust and time of vesting of interests in the trust property shall not change merely because the place of administration of the trust is changed from some other jurisdiction to this State.

(b) Except as otherwise provided by the terms of a court order and notwithstanding a general choice of law provision in the governing instrument of a trust, such as a provision to the effect that the laws of a jurisdiction other than this State shall govern the trust or the administration of the trust, the laws of this State shall govern the administration of the trust while the trust is administered in this State, as provided in § 3340(1) through (3) of this title or otherwise, unless the governing instrument expressly provides that the laws of another jurisdiction govern the administration of the trust and further provides that the laws governing the administration of the trust shall not change on account of a change in the place of administration of the trust.

(c) Notwithstanding the foregoing, if a fiduciary takes or fails to take any action, based upon a good faith belief that the laws of a foreign jurisdiction govern the administration of a trust while the trust is administered in this State, the fiduciary’s liability under the governing instrument for the action or inaction shall be determined in accordance with the laws of the foreign jurisdiction.

Legislative History

75 Del. Laws, c. 300, § 3 ; 80 Del. Laws, c. 153, § 3 ; 81 Del. Laws, c. 149, § 1 ; 84 Del. Laws, c. 182, § 3