Ohio Revised Code Search

...A legacy trust may allow or provide for any or all of the following rights, powers, interests, or provisions, none of which grants, or is considered to be, either alone or in any combination, a right or power to revoke a trust or to voluntarily or involuntarily transfer an interest in that trust: (A) A provision that, upon the happening of a defined event or a stated contingency, results in the termination of a tr...

...) The property being transferred to the trust was not derived from unlawful activities. (2) The transferor has full right, title, and authority to transfer the property to the legacy trust. (3) The transferor will not be rendered insolvent immediately after the transfer of the property to the legacy trust. (4) The transferor does not intend to defraud any creditor by transferring the property to the legacy trus...

...paration, execution, administration, or funding of, a legacy trust. (E) Notwithstanding any provision of law to the contrary but subject to division (G) of section 5816.10 of the Revised Code, and in addition to any other limitations, restrictions, or bars imposed by this section, no action of any kind, including, but not limited to, an action to enforce a judgment entered by a court or other body having adjud...

...ebt shall remain subject to the legacy trust in question. (2) All other qualified dispositions to any trustee of the legacy trust in question, including, but not limited to, any qualified disposition of a partial, co-ownership, or undivided interest in property by a transferor other than the transferor whose qualified disposition is avoided, together with the legacy trust itself, shall remain valid and effecti...

...Any successor or replacement trustees of a legacy trust shall be determined or selected in the following manners: (A)(1) Division (A)(2) of this section applies if in any action involving a legacy trust or any trustee of the legacy trust a court enters or issues any order in which or by which the court declines to apply the law of this state in determining any of the following matters: (a) The validity, construc...

...ilarity exists. (B) A statement in a trust instrument stating that it "shall be governed by the laws of Ohio" or other statement to similar effect or of similar import is considered to expressly incorporate the laws of this state to govern the validity, construction, and administration of that trust instrument and to satisfy division (K)(1)(b) of section 5816.02 of the Revised Code. (C) A disposition by a nonqua...

...on may serve as an advisor of a legacy trust except that a transferor may act as an advisor only in connection with investment decisions. (B) An advisor shall be considered a fiduciary unless the terms of a legacy trust instrument expressly provide otherwise.

...ded otherwise by the terms of a legacy trust instrument, each trustee and each advisor of a legacy trust shall have the greatest discretion permitted by law in connection with all matters of trust administration, all trust distributions, and all other trustee or advisor decisions.

...y interest in any property of a legacy trust to the extent that the distribution of that property is subject to the discretion of one or more qualified trustees or advisors, either acting alone or in conjunction with any other person, including any person authorized to veto any distributions from the legacy trust.

... the Revised Code applies to any legacy trust settled or administered on or after the effective date of this amendment.

... chapter: (A)(1) "Beneficiary under a trust" means either of the following: (a) Any person that has a present or future beneficial interest in a trust, whether vested or contingent; (b) Any person that, in a capacity other than that of trustee, holds a power of appointment over trust property, but does not include the class of permitted appointees among whom the power holder may appoint. (2) "Beneficiary unde...

...lidity of both the will and any related trust. (C) The failure of a testator to file a complaint for a judgment declaring the validity of a will shall not be construed as evidence or an admission that the will is not valid. (D) A complaint for a determination of the validity of a testator's will shall be accompanied by an express written waiver of the testator's physician-patient privilege provided in division (B...

... the settlor's death that the settlor's trust is valid and enforceable under its terms, subject only to a subsequent revocation or modification of the trust. The right to file a complaint for a determination of the validity of a settlor's trust under this chapter, or to voluntarily dismiss a complaint once filed, is personal to the settlor and may not be exercised by the settlor's guardian or an agent under the settl...

...o determine the validity of a will or a trust shall be filed with the probate court. The probate judge, upon the motion of a party or the judge's own motion, may transfer the proceeding to the general division of the court of common pleas. (B) The venue for a complaint under section 5817.02 of the Revised Code is either of the following: (1) The probate court of the county in this state where the testator is domi...

...(A) A complaint under section 5817.02 of the Revised Code shall name as party defendants all of the following, as applicable: (1) The testator's spouse; (2) The testator's children; (3) The testator's heirs who would take property pursuant to section 2105.06 of the Revised Code had the testator died intestate at the time the complaint is filed; (4) The testator's beneficiaries under the will; (5) Any benef...

... time the complaint is filed; (4) The trustee or trustees under the trust; (5) The beneficiaries under the trust; (6) If the trust amends, amends and restates, or replaces a prior trust, any beneficiary under the settlor's most recent prior trust. (B) A complaint under section 5817.03 of the Revised Code may name as a party defendant any other person that the settlor believes may have a pecuniary interest in...

...and the will, and a copy of the related trust, if applicable, shall be made on every party defendant named in the complaint filed under section 5817.02 of the Revised Code, as provided in the applicable Rules of Civil Procedure. (B) Service of process, with a copy of the complaint and the trust, and a copy of the related will, if applicable, shall be made on every party defendant named in the complaint filed under ...

...(A) After a complaint is filed under section 5817.02 or 5817.03 of the Revised Code, the court shall fix a time and place for a hearing. (B) Notice of the hearing shall be given to the testator or settlor, as applicable, and to all party defendants, as provided in the applicable Rules of Civil Procedure. (C) The hearing shall be adversarial in nature and shall be conducted pursuant to sections 2101.31 and 2721.10...

...e proof of the execution of the will or trust, as applicable. A person who opposes the complaint has the burden of establishing one or more of the following: (1) The lack of testamentary intent or the intent to create a trust, as the case may be; (2) The lack of the testator's testamentary capacity, or the settlor's legal capacity to enter into and establish the trust; (3) Undue influence, restraint, or duress...

...t. (B)(1) The court shall declare the trust valid if it finds all of the following: (a) The trust meets the requirements of section 5804.02 of the Revised Code. (b) The settlor had the legal capacity to enter into and establish the trust, was free from undue influence, and was not under restraint or duress. (c) The execution of the trust was not the result of fraud or mistake. (2) Unless the trust is modif...

...(A) Unless the will or trust is modified or revoked, and except as otherwise provided in this section, no person may contest the validity of a will or trust that is declared valid in a proceeding pursuant to this chapter. (B) The failure to name a necessary defendant under division (A) of section 5817.05 of the Revised Code is not jurisdictional. A declaration of a will's validity under this chapter shall be bindin...

...(A) After a declaration of a will's validity under division (A)(1) of section 5817.10 of the Revised Code, the will may be modified by a later will or codicil executed according to the laws of this state or another state, and the will may be revoked under section 2107.33 of the Revised Code or other applicable law. (B) The revocation by a later will, or other document under section 2107.33 of the Revised Code, of a...

...(A) After a declaration of a trust's validity under division (B)(1) of section 5817.10 of the Revised Code, the trust may be modified, terminated, revoked, or reformed under sections 5804.10 to 5804.16 of the Revised Code, or other applicable law. (B) The modification, termination, revocation, or reformation by a new trust or other document of a trust that has been declared valid under division (B)(1) of section 58...

... to determine the validity of a will or trust. (B) The determination or judgment rendered in a proceeding under this chapter is not binding upon the parties to that proceeding in any action that is not brought to determine the validity of a will or trust. (C) The failure of a testator to file a complaint for a judgment declaring the validity of a will that the testator has executed is not admissible as evidence i...

...As used in this chapter: (A) "Owner," "benefit," "lead county," and "improvement" have the same meanings as in section 6131.01 of the Revised Code. (B) "Force account" has the same meaning as in section 5543.19 of the Revised Code.