Discussing competition among states in the area of trust law has similarities to competition among states in corporate law. Prof. Ribstein posts about a recent article on the topic and observes that:
“…The real driver of state legal competition is not franchise fees or taxes, but the interests of local businesses, predominately lawyers, an I idea I first discussed in Delaware, Lawyers and Choice of Law, 19 Delaware Journal of Corporate Law 999 (1994). Lawyers compete for clients by maintaining the law of the state in which they are licensed.” Here is the link:
Ideoblog: State competition for trusts