Effective: September 12, 2008 Latest Legislation: House Bill 499 – 127th General Assembly (A) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary’s interest or if it restrains involuntary transfer of a beneficiary’s interest and permits voluntary transfer of a beneficiary’s interest only with the consent of […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) As used in this section, “child” includes any person for whom an order or judgment for child support has been entered in this or another state. (B) Subject to section 5805.03 of the Revised Code, a spendthrift provision is unenforceable against […]
Effective: September 12, 2008 Latest Legislation: House Bill 499 – 127th General Assembly Notwithstanding anything to the contrary in division (B) of section 5805.02 of the Revised Code, no creditor or assignee of a beneficiary of a wholly discretionary trust may reach the beneficiary’s interest in the trust, or a distribution by the trustee before […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) As used in this section, “child” includes any person for whom an order or judgment for child support has been entered in this or any other state. (B) Except as otherwise provided in divisions (C) and (D) of this section, whether […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) To the extent that a trust that gives a beneficiary the right to receive one or more mandatory distributions does not contain a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to attach present or future […]
Effective: August 17, 2021 Latest Legislation: House Bill 7 – 134th General Assembly (A) Whether or not the terms of a trust contain a spendthrift provision, all of the following apply: (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 […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
