Ohio Revised Code Search

...tate tax, or that contain a division of property based on the imposition or amount of one or more of those taxes, to give effect to the intent of the settlor; (8) Resolving any other matter that arises under Chapters 5801. to 5811. of the Revised Code. (D) No agreement shall be entered into under this section affecting the rights of a creditor without the creditor's consent or affecting the collection rights of fed...

...A guardian of the estate or person, in acting under Chapters 5801. to 5811. of the Revised Code, shall comply with the guardian's duties under Chapter 2111. of the Revised Code or other applicable law.

...(A) As used in this section: (1) "Assisted reproductive technologies" means any medical or scientific technology or method designed to assist one or more persons to cause a pregnancy through means other than by sexual intercourse, including technologies that are developed after the date of this amendment. (2) "Trust" includes a revocable or irrevocable trust. (B) Notwithstanding any other section of the Revised...

...As used in sections 5801.20 to 5801.24 of the Revised Code: (A)(1) "Applicable reporting period" means either of the following, as applicable: (a) The most recent four years, as of the date of preparation of a notice authorized under division (B) of section 5801.22 or division (B) of section 5801.23 of the Revised Code; (b) If the trust became irrevocable during such four-year period, the period from the date ...

...(A) A trustee may, but is not required to, use the process prescribed in sections 5801.22 and 5801.23 of the Revised Code, as applicable, when concluding the trustee's administration of an irrevocable trust. (B) Sections 5801.20 to 5801.24 of the Revised Code do not apply to a testamentary trust subject to the supervision of a probate court. (C) Except as otherwise provided in the Revised Code or other applicab...

...(A) When a trust is to terminate as a result of trust-terminating distributions and the trustee elects to use the provisions of this section, the trustee shall serve on the terminating distributions necessary parties the documents and information described in division (B) of this section. The trustee also may serve those documents and that information on other persons who the trustee reasonably believes may have an i...

...(A) When a trustee resigns or is removed from an irrevocable trust pursuant to the terms of the trust or otherwise and the departing trustee elects to use the provisions of this section, the departing trustee shall serve on the resignation or removal necessary parties the documents and information described in division (B) of this section. The trustee also may serve those documents and that information on other perso...

...(A)(1) Division (A)(2) of this section applies if both of the following apply: (a) A notice and trustee's reports under division (B) of section 5801.22 or division (B) of section 5801.23 of the Revised Code are served upon both of the following: (i) The personal representative for the estate of a deceased beneficiary of the noticing trust or the trustee of a subtrust that is a beneficiary of the noticing trust; ...

...A)(1) As used in the Revised Code, the "Ohio Uniform Prudent Investor Act" means sections 5809.01 to 5809.08, 5808.03, 5808.05, and 5808.06, division (A) of section 5808.02, and division (B) of section 5808.07 of the Revised Code, and those sections may be cited as the "Ohio Uniform Prudent Investor Act." (2) As used in the Ohio Uniform Prudent Investor Act, "trustee" means a trustee under any testamentary, inter vi...

...rises, tangible and intangible personal property, and real property; (5) The expected total return from income and appreciation of capital; (6) Other resources of the beneficiaries; (7) Needs for liquidity, regularity of income, and preservation or appreciation of capital; (8) An asset's special relationship or special value, if any, to the purposes of the trust or to one or more of the beneficiaries.

...h the requirements and standards of the Ohio Uniform Prudent Investor Act. (B) A trustee shall diversify the investments of a trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.

...inancial strength of the life insurance company maintaining the policy; (5) To inquire about changes in the health or financial condition of the insured or insureds under the policy. (B) The trustee, the attorney who drafted a trust, or any person who was consulted with regard to the creation of a trust, in the absence of fraud, is not liable to the beneficiaries of the trust or to any other person for any los...

... the requirements and standards of the Ohio Uniform Prudent Investor Act.

...Compliance with the Ohio Uniform Prudent Investor Act shall be determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight.

...(A) A trustee may delegate investment and management functions of a trust that a prudent trustee having comparable skills could properly delegate under the circumstances. A trustee that exercises its delegation authority under this division shall comply with the requirements of division (A) of section 5808.07 of the Revised Code. (B) In performing investment or management functions of a trust that are delegated to a...

...nvestment or strategy permitted by the Ohio Uniform Prudent Investor Act: "investments permissible by law for investment of trust funds"; "legal investments"; "authorized investments"; "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent d...

...(A) The Ohio Uniform Prudent Investor Act shall be applied and construed to effectuate the general purpose to make uniform the law with respect to the subject of these sections among the states enacting it. (B) The Ohio Uniform Prudent Investor Act applies to trusts existing on or created after March 22, 1999. As applied to trusts existing on March 22, 1999, the Ohio Uniform Prudent Investor Act governs only decis...

...lder, who makes a transfer. (P) "Trust company" means a financial institution that is authorized to exercise trust powers. (Q) "Administrator" includes an "administrator with the will annexed.

..._____________ (name of minor) under the Ohio Transfers to Minors Act ; " (2) If the subject of the gift or transfer is a security not in registered form, by delivering it to the donor or transferor, another person who is eighteen years of age or older, or a trust company, accompanied by a statement of a gift or transfer in the following form, in substance, signed by the donor or transferor and the person or trust c...

...d person dealing with a person or trust company designated as custodian, the respective powers, rights, and immunities provided in these sections.

... ____________ (name of minor) under the Ohio Transfers to Minors Act," or shall maintain each security that is custodial property and in registered form in an account with a broker or in a financial institution in the name of the custodian, followed, in substance, by the words: "as custodian for _____________ (name of minor) under the Ohio Transfers to Minors Act." A security held in account with a broker or in a fin...

...led to reimbursement from the custodial property for reasonable expenses incurred in the performance of the custodian's duties. (B) A custodian may act without compensation for the custodian's services. (C) Unless the custodian is a donor or transferor, the custodian may receive from custodial property reasonable compensation for the custodian's services determined by one of the following standards in the order sta...

...ct as a custodian of any money or other property paid or delivered to the person or trust company.

..._____________ (name of minor) under the Ohio Transfers to Minors Act;" (3) Executing in the appropriate manner a deed, assignment, or similar instrument for all interest in real estate that is custodial property in the name of the successor custodian, followed, in substance, by the words: "as custodian for _________________________________ (name of minor) under the Ohio Transfers to Minors Act;" (4) Delivering to...

...ire and order delivery of all custodial property to the successor custodian and the execution of all instruments required for the transfer of the custodial property.