Ohio Revised Code Search

...ther than a trustee, designated by the settlor in the trust instrument to receive notices, information, and reports otherwise required to be provided to a current beneficiary under divisions (B)(8) and (9) of section 5801.04 of the Revised Code. (E) "Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in division (A) of section 5804.05 of the Revised Code. (F) "C...

...pply: (1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors. (2) Except to the extent that a trust is established pursuant to, or otherwise is wholly or partially governed by or subject to Chapter 5816. of the Revised Code, with respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distri...

...vide that the trust is irrevocable, the settlor may revoke or amend the trust. This division does not apply to a trust created under an instrument executed before January 1, 2007. (B) If a revocable trust is created or funded by more than one settlor, all of the following apply: (1) To the extent the trust consists of community property, either spouse acting alone may revoke the trust, but the trust may be am...

...(A) During the lifetime of the settlor of a revocable trust, whether or not the settlor has capacity to revoke the trust, the rights of the beneficiaries are subject to the control of the settlor, and the duties of the trustee, including the duties to inform and report under section 5808.13 of the Revised Code, are owed exclusively to the settlor. If the trustee breaches its duty during the lifetime of the sett...

...is made irrevocable by the death of the settlor of the trust shall be commenced by the earlier of the date that is two years after the date of the death of the settlor of the trust or that is six months from the date on which the trustee sends the person bringing the action a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time all...

...(A) A settlor may file a complaint with the probate court to determine before 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 a...

...the following, as applicable: (1) The settlor's spouse; (2) The settlor's children; (3) The settlor's heirs who would take property pursuant to section 2105.06 of the Revised Code had the settlor died intestate at the 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...

...at was revocable immediately before the settlor's death by the settlor alone or by the settlor with the consent of any person other than a person holding an adverse interest. A trust's characterization as revocable is not affected by the settlor's lack of capacity to exercise the power of revocation, regardless of whether an agent of the settlor under a power of attorney, or a guardian of the person or estate of the ...

...consistent with the testator's or other settlor's intent in creating the trust, as evidenced by the terms of the trust instrument. (2) The court may order the trustee to exercise discretion that the trust instrument confers upon the trustee only if the instrument contains specific instructions or conditions governing the exercise of that discretion and the trustee has failed to comply with the instructions or condit...

... a name for the trust, the name of the settlor or testator; and (b) In a separate part of the financing statement: (i) If the name is provided in accordance with division (A)(3)(a)(i) of this section, indicates that the collateral is held in a trust; or (ii) If the name is provided in accordance with division (A)(3)(a)(ii) of this section, provides additional information sufficient to distinguish the trust fr...

... the Revised Code, except that only the settlor and any trustee are required to be parties to an amendment of any revocable trust: (a) The settlor if living and if no adverse income or transfer tax results would arise from the settlor's participation; (b) The beneficiaries; (c) The currently serving trustees; (d) Creditors, if their interest is to be affected by the agreement. (2) In addition to the parties to a...

... upon petition the court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, that all consents, including any given by representatives under Chapter 5803. of the Revised Code, are valid, and that all parties giving consent are competent to do so, the court shall enter an order approving the modification or termination even if the modification o...

...rviving spouse of the testator or other settlor. (b) It qualifies for the federal estate tax marital deduction allowed by Subtitle B, Chapter 11, of the "Internal Revenue Code of 1986," 26 U.S.C.A. 2056, as amended, the estate tax marital deduction allowed by division (A) of section 5731.15 of the Revised Code, or the qualified terminable interest property deduction allowed by division (B) of section 5731.15 of the ...

...a trust instrument. (C) No child of a settlor born through the use of any assisted reproductive technologies more than three hundred days after the date of death of the settlor of a trust instrument s hall be considered the settlor's child under that trust instrument, under the exercise of any power to appoint trust assets in favor of the settlor's children, or under the exercise of any other power to otherwise exp...

... instrument to the beneficiary. If the settlor of a revocable trust that has become irrevocable has completely restated the terms of the trust, the trust instrument furnished by the trustee shall be the restated trust instrument, including any amendments to the restated trust instrument. Nothing in division (B)(1) of this section limits the ability of a beneficiary to obtain a copy of the original trust instrum...

... additions to the trust property from a settlor or any other person; (B) Acquire or sell property, for cash or on credit, at public or private sale; (C) Exchange, partition, or otherwise change the character of trust property; (D) Deposit trust money in an account in a regulated financial-service institution; (E) Borrow money, with or without security, and mortgage or pledge trust property for a period within or ...

...trust may be revoked or amended by its settlor; (2) Any trustee with respect to any portion of the first trust as to which that trustee is also the settlor. (M) If, and to the extent that, a trustee makes any distribution pursuant to division (A) or (B) of this section to the trustee of a second trust, then for purposes of division (W) of section 5801.01 of the Revised Code, the governing instrument for the s...

...rviving spouse of the testator or other settlor. (2) The property qualifies for the federal estate tax marital deduction allowed by subtitle B, Chapter 11 of the "Internal Revenue Code of 1986," 26 U.S.C. 2056, as amended, the estate tax marital deduction allowed by division (A) of section 5731.15 of the Revised Code, or the qualified terminable interest property deduction allowed by division (B) of section 5731.15 ...

...erty of a decedent, ward, principal, or settlor has the right to access any digital asset in which the decedent, ward, principal, or settlor had a right or interest and that is not held by a custodian or subject to a terms-of-service agreement. (D) A fiduciary acting within the scope of the fiduciary's duties is an authorized user of the property of the decedent, ward, principal, or settlor for the purpose of appli...

...he resident, the resident's estate, the settlor, or the settlor's estate and to claims arising under this chapter against the resident, the resident's estate, the settlor, or the settlor's estate. (11) If the department waives the liability of an individual and the individual's liable relatives pursuant to section 5123.194 of the Revised Code, the liability of the individual and relative ceases in accordance with t...

...recipient, the recipient's estate, the settlor, or the settlor's estate and to claims arising under this chapter against the recipient, the recipient's estate, the settlor, or the settlor's estate.

...ct to division (F) of this section, the settlor of the trust, other than the settlor of a trust created by a court order, has capacity to create a trust. (2) Subject to division (F) of this section, the settlor of the trust, other than the settlor of a trust created by a court order, indicates an intention to create the trust. (3) The trust has a definite beneficiary or is one of the following: (a) A charitable tr...

... the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal. (B) A person appointed in the terms of a trust or, if no person is so appointed, a person appointed by the court may enforce a trust authorized by thi...

... if the terms of the trust prohibit the settlor from revoking it, whether or not the settlor's estate or the settlor's heirs are named as the remainder beneficiary or beneficiaries of the trust upon the settlor's death.

... greater the grant of discretion by the settlor to the trustee, the broader the range of permissible conduct by the trustee in exercising it. (B) Subject to division (D) of this section, and unless the terms of the trust expressly indicate that a rule in this division does not apply: (1) A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make disc...