Ohio Revised Code Search

...ion of the trust, a report of the trust property, liabilities, receipts, and disbursements, including the source and amount of the trustee's compensation, a listing of the trust assets, and, if feasible, the trust assets' respective market values. Upon a vacancy in a trusteeship, unless a cotrustee remains in office, a report for the period during which the former trustee served must be sent to the current bene...

...(A) A trustee may invest in any kind of property or type of investment provided that the investment is consistent with 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.

...uired to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; (2) The profit the trustee made by reason of the breach. (B) Except as otherwise provided in this division, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled ...

...s or depreciation in the value of trust property or for not having made a profit.

...orce the transaction against the trust property as if the representations contained in the certification were correct. (I) This section does not affect the use or validity of a memorandum of trust under section 5301.255 of the Revised Code. (J) This section does not limit the right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust.

...ect to a decedent's estate, a trust, or property passing to a trust, that is eligible for a federal estate tax marital deduction or Ohio estate tax marital deduction, or for a federal estate tax charitable deduction or Ohio estate tax charitable deduction, or for a federal gift tax marital deduction or federal gift tax charitable deduction only to the extent that the credit of the receipt or charge of the expenditure...

...(A) If a trust that conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust's general accounting records, the trustee may maintain separate accounting records for its transactions, whether or not its assets are segregated from other trust assets. (B) A trustee that ac...

...ansferor was harvesting timber from the property before it became subject to the trust. (D) If a trust owns an interest in timberland on January 1, 2003, the trustee may allocate net receipts from the sale of timber and related products as provided in this section or in the manner used by the trustee before that date. If the trust acquires an interest in timberland after January 1, 2003, the trustee shall allocate n...

...n, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; (D) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.

...nts; (3) Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker's commissions; (4) Periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; (5) Disbursements described in division (A)(7) of section 5812.43 of the Revised Code. (...

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

...rdless of connotations under the law of property, trusts, or wills. The power includes but is not limited to powers which are special, general, limited, absolute, in gross, appendant, appurtenant, or collateral.

...ion or depreciation in the value of all property, including cash, available for distribution in satisfaction of such gift, devise, or bequest, unless the will or trust instrument expressly requires that distribution be made in a manner so as not to be fairly representative of such appreciation or depreciation.

... (6) Taking custody of or storing trust property; (7) Any other similar administrative duties for the trust. (C) If an instrument under which a fiduciary acts reserves to the grantor, or vests in an advisory or investment committee or in one or more other persons, including one or more fiduciaries, to the exclusion of the fiduciary or of one or more of several fiduciaries, any power, including, but not limited ...

...eeding for distributing or disposing of property in reliance on and in accordance with a designation of beneficiary as described in division (B)(1) of this section, if both of the following apply: (1) The distribution or disposition otherwise is proper; (2) The agent, bank, broker, custodian, issuer, life insurance company, plan administrator, savings and loan association, transfer agent, trustee, or other person d...

... charged with duties in relation to any property, interest, or estate for another's benefit. A fiduciary also includes an agency under contract with the department of developmental disabilities for the provision of protective service under sections 5123.55 to 5123.59 of the Revised Code, when appointed by and accountable to the probate court as a guardian or trustee for a person with a developmental disability. (2)...

...A work of art that is trust property under section 5815.42 or 5815.43 of the Revised Code is not subject to the claims, liens, or security interests of the creditors of the art dealer, notwithstanding Chapters 1301. to 1310. of the Revised Code.

...or authority other than to convey trust property to any other trustee that is appointed, installed, or serving in accordance with that division. (3) For purposes of division (A) of this section: (a) "Court" includes a judicial tribunal, an administrative tribunal, or other adjudicative body or panel. (b) "Order" includes any order, writ, judgment, entry, edict, mandate, directive, instruction, or decree issued ...

...(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 beneficiary under the testator's most recent prior will. (B) A complaint under section 5817.02 of the Revised Code may name as a party defendant any other person that the testator believes ma...

... (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 beneficiary under the settlor's most recent prior trust. (B) A complaint under section...

... per cent of the assessed value of property in the county or the amount appropriated to the commission from the county general fund in the current fiscal year by more than ten per cent of that appropriation, the board of county commissioners, by resolution, may create not more than six memberships on the veterans service commission in addition to the memberships p...

...per dollar on the assessed value of the property of the county, to raise the amount that the board approves. The veterans service commission may, prior to the first day of October in any year, submit to the board of county commissioners a written request for a hearing before the board to discuss the commission's budget request for the ensuing fiscal year. Upon receiving this request, the board shall provide for such ...

...stration and revenue or profit from any property wholly or partially acquired therewith. (D) "Estate" means income on hand and assets acquired partially or wholly with "income." (E) "Benefits" means all moneys paid or payable by the United States through the veterans' administration. (F) "Administrator" means the administrator of veterans' affairs of the United States or his successor. (G) "Ward" means a benefici...

...his ward's estate in such securities or property as is authorized under section 2109.37 of the Revised Code, but only upon prior order of the probate court; except that the funds may be invested, without prior court authorization, in direct unconditional interest-bearing obligations of this state or of the United States and in obligations the interest and principal of which are unconditionally guaranteed by the Unite...

...ale, to protect the ward's right in the property so foreclosed or sold; nor does it limit the right of the guardian, if it is necessary to protect the ward's interest and upon prior order of the court in which the guardianship is pending, to agree with cotenants of the ward for a partition in kind, or to purchase from cotenants the entire undivided interests held by them, or to bid and purchase such interests at a sa...