Ohio Revised Code Search

...de is liable for any amounts, including tax, interest, and penalties, imposed under this chapter in the same manner as persons that do hold such a license. (B) The tax commissioner may issue an assessment against a person described in division (A) of this section for any amount due under this chapter in the same manner provided under section 5753.07 of the Revised Code.

...tee or permissible distributee of trust income or principal. (G) "Environmental law" means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment. (H) "Guardian of the estate" means a guardian appointed by a court to administer the estate of any individual or to serve as conservator of the property of an individual eighteen years of age or older under section ...

...e Revised Code may be cited as the Ohio trust code.

...e and noncharitable inter vivos express trusts and to trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. Chapters 5801. to 5811. of the Revised Code apply to charitable and noncharitable testamentary trusts to the extent provided by section 2109.69 of the Revised Code.

...tice or knowledge of a fact involving a trust only from the time an employee having responsibility to act for the trust received the information or the information would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having ...

... beneficiary. (B) The terms of a trust prevail over any provision of Chapters 5801. to 5811. of the Revised Code except the following: (1) The requirements for creating a trust; (2) The duty of a trustee to act in good faith and in accordance with the purposes of the trust; (3) The requirement that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; (4) The power of t...

...The common law of trusts and principles of equity continue to apply in this state, except to the extent modified by Chapters 5801. to 5811. or another section of the Revised Code.

...isdiction designated in the terms of a trust determines the meaning and effect of the terms unless the designation of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the matter at issue. In the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the m...

...designated jurisdiction, the terms of a trust designating the principal place of administration of the trust are valid and controlling if a trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction or if all or part of the administration occurs in the designated jurisdiction. (B) A trustee is under a continuing duty to administer the trust at a place appropriate to...

...and not reasonably ascertainable by the trustee. (C) The person to be notified or sent a document may waive notice or the sending of a document under Chapters 5801. to 5811. of the Revised Code. (D) Notice of a judicial proceeding must be given as provided in the applicable rules of civil procedure.

...current or qualified beneficiaries of a trust, the trustee shall also give notice to any other beneficiary who has sent the trustee a request for notice. (B) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 5804.08 or 5804.09 of the Revised Code has the rights of a current beneficiary under Chapters 5801. to 5811. of the Revised Code.

...ng 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 an agreement under division (B)(1) of this section, the parties shall include the attorney general if an agreement described in division (C)(7) of this sect...

...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.

...fter the date of this amendment. (2) "Trust" includes a revocable or irrevocable trust. (B) Notwithstanding any other section of the Revised Code, this section governs the beneficial rights under a trust of any child born through the use of any assisted reproductive technologies, and also applies to the exercise of any power of appointment granted under a trust instrument or any other power to otherwise expand th...

...1.23 of the Revised Code; (b) If the trust became irrevocable during such four-year period, the period from the date the trust became irrevocable to the date of preparation of the notice. (2) If the trustee sending the notice accepted the trusteeship during the period described in division (A)(1) of this section, the "applicable reporting period" shall be from the date of the trustee's acceptance to the date of ...

...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 applicable law, including t...

... (l) An estimate of any assets, income, taxes, fees, expenses, claims, or other items reasonably expected by the trustee to be received or disbursed before completion of the trust-terminating distributions but not yet received or disbursed, including trustee fees remaining to be paid. (2) One or more trustee's reports covering the applicable reporting period. (C) If no written objection is received by the trustee...

... (m) An estimate of any assets, income, taxes, fees, expenses, claims, or other items reasonably expected by the departing trustee to be received or disbursed before delivery of the net assets of the trust to the successor trustee, or to one or more co-trustees as applicable, but not yet received or disbursed, including trustee fees remaining to be paid. (2) One or more trustee's reports covering the applicable rep...

... 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; (ii) One or more beneficiaries of the estate or subtrust whose fiduciary is served. (b) Both the fiduciary of the estate or subtrust and one or more beneficiaries of that estate or subtrust who are served do either of the foll...

...ay intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law. (B) An inter vivos trust is not subject to continuing judicial supervision unless ordered by the court. Trusts created pursuant to a section of the Revised Code or a judgment or decree of a court are subject to continuing judicial supervision to the extent provided by the section, ju...

...g the trust. (C) This section does not preclude other methods of obtaining jurisdiction over a trustee, beneficiary, or other person receiving property from the trust.

...any action that involves an inter vivos trust. (B) The probate division of the court of common pleas has exclusive jurisdiction to render declaratory judgments under Chapter 5817. of the Revised Code. However, the probate division of the court of common pleas may transfer a declaratory judgment proceeding under that chapter to the general division of the court of common pleas pursuant to division (A) of section 581...

...ess it involves a testamentary or other trust that already is subject to court supervision, is commenced by filing a complaint.

...n division (A) of this section shall be presumed to require binding arbitration under Chapter 2711. of the Revised Code.

...to the termination or modification of a trust under division (A) of section 5804.11 of the Revised Code.