Trusts created in other jurisdictions.

Sec. 7403. 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 a jurisdiction to which, at the time of creation, any of the following applied: (a) The settlor was domiciled, had a place of abode, or was a national in the jurisdiction. (b) A trustee was domiciled or had a place of business in the jurisdiction. (c) Any trust property was located in the jurisdiction.