Ohio Revised Code Search

...on of the testator's or trust creator's death, does not include the payment of any portion of any tax that is imposed on any transfer under any other will or trust agreement by Chapter 13 of subtitle B of the "Internal Revenue Code of 1986," 100 Stat. 2718, 26 U.S.C. 2601-2624, as amended, unless the provision of the will or trust agreement specifically states, using the words "generation-skipping transfer tax," that...

...de for the care, comfort, maintenance, welfare, education, or general well-being of the beneficiary. (2) "Disability" means any substantial, medically determinable impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of at least twelve months, except that "disability" does not include an impairment that is the result of abuse of alcohol or drugs. ...

...rust in which the grantor reserves to self a power to alter, amend, revoke, or terminate the provisions of the trust, a grantor is divorced, obtains a dissolution of marriage, has the grantor's marriage annulled, or, upon actual separation from the grantor's spouse, enters into a separation agreement pursuant to which the parties intend to fully and finally settle their prospective property rights in the prope...

... principal executes a power of attorney designating the principal's spouse as the attorney in fact for the principal and if after executing the power of attorney, the principal and the principal's spouse are divorced, obtain a dissolution or annulment of their marriage, or enter into a separation agreement pursuant to which they intend to fully and finally settle each spouse's prospective property rights in the prope...

...ng 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 did not have any notice of the facts that resulted in the revocation of the beneficiary designation by operation of division (B)(1) of this section.

...ng 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 did not have any notice of the facts that resulted in the termination of the rights of survivorship by operation of division (A)(1) or (B)(1) of this section.

...artnership that arose prior to the acquisition of the general partnership interest by the executor or administrator becoming a general partner. (E) The liability limitations in this section apply to fiduciaries as partners notwithstanding the broader personal liabilities otherwise imposed by any partnership law. (F) If an estate or other fund held by a fiduciary is identified as a partner, the reference is deemed t...

...Permits or suffers a sale or other disposition of the property pursuant to judicial action against the disclaimant. (K) Neither a fiduciary's application for appointment or assumption of duties as a fiduciary nor a beneficiary's application for appointment as a personal representative or fiduciary waives or bars the disclaimant's right to disclaim a right, power, privilege, or immunity as a personal representat...

...ction. (2) The loan proceeds will be delivered to the trustee of the trust or will otherwise be principally used for the benefit of one or more beneficiaries of the trust. (3) The interest in the real property is reconveyed back to one or more trustees of the trust within a reasonable time after the reconveying beneficiary acquired actual notice that the lender has perfected the lender's collateral rights in an...

...ns a person engaged in the business of selling works of art, other than a person exclusively engaged in the business of selling goods at public auction. (B) "Artist" means the creator of a work of art. (C) "On consignment" means delivered to an art dealer for the purpose of sale or exhibition, or both, to the public by the art dealer other than at a public auction. (D) "Work of art" means an original art work that...

...If an art dealer accepts a work of art, on a fee, commission, or other compensation basis, on consignment from the artist who created the work of art, the following consequences attach: (A) The art dealer is, with respect to that work of art, the agent of the artist. (B) The work of art is trust property and the art dealer is a trustee for the benefit of the artist until the work of art is sold to a bona fide third...

...to the artist. (B) If an art dealer resells a work of art that the art dealer purchased for the art dealer's own account to a bona fide third party before the artist has been paid in full, the work of art ceases to be trust property and the proceeds of the resale are trust funds in the possession or control of the art dealer for the benefit of the artist to the extent necessary to pay any balance still due to the ar...

...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.

...id to the art dealer for displaying or selling the work of art. (B) If an art dealer violates this section, a court, at the request of the artist, may void the obligation of the artist to that art dealer or to a person to whom the obligation is transferred, other than a holder in due course.

...An art dealer who accepts a work of art, on a fee, commission, or other compensation basis, on consignment from the artist who created the work of art shall not use or display the work of art or a photograph of the work of art, or permit the use or display of the work of art or a photograph of the work of art, unless both of the following occur: (A) Notice is given to users or viewers that the work of art is the wor...

...ons 5815.41 to 5815.48 of the Revised Code is void.

...Any art dealer who violates section 5815.45 or 5815.46 of the Revised Code is liable to the artist for the artist's reasonable attorney's fees and in an amount equal to the greater of either of the following: (A) Fifty dollars; (B) The actual damages, if any, including the incidental and consequential damages, sustained by the artist by reason of the violation.

...on 5817.04 of the Revised Code. (D) "Related trust" means a trust for which both of the following apply: (1) The testator is the settlor of the trust. (2) The trust is named as a beneficiary in the will in accordance with section 2107.63 of the Revised Code. (E) "Related will" means a will for which both of the following apply: (1) The testator is the settlor of a trust. (2) The will names the trust as a ...

... the validity 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 divi...

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

...(A) A complaint to 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...

...ant any other person that the testator believes may have a pecuniary interest in the determination of the validity of the testator's will. (C) A complaint under section 5817.02 of the Revised Code may contain all or any of the following: (1) A statement that a copy of the will has been filed with the court; (2) A statement that the will is in writing; (3) A statement that the will was signed by the testator, ...

...dant any other person that the settlor believes may have a pecuniary interest in the determination of the validity of the settlor's trust. (C) A complaint under section 5817.03 of the Revised Code may contain all or any of the following: (1) A statement that a copy of the trust has been filed with the court; (2) A statement that the trust is in writing and was signed by the settlor; (3) A statement that the t...

...elated 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 section 5817.03 of the Revised Co...

...(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...