Section 5815.35 | General Partners Acting as Fiduciary.
Effective: October 12, 2016 Latest Legislation: House Bill 158 – 131st General Assembly (A)(1) As used in this division, “fiduciary” means any person, association, or corporation, other than a trustee of a testamentary trust, an assignee or trustee for an insolvent debtor, or a guardian under Chapter 5905. of the Revised Code, that is appointed […]
Section 5815.36 | Disclaiming Testamentary and Nontestamentary Succession to Real and Personal Property.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) As used in this section: (1) “Disclaimant” means any person, any guardian or personal representative of a person or estate of a person, or any attorney-in-fact or agent of a person having a general or specific authority to act granted in […]
Section 5815.37 | Temporary Conveyances.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) If any interest in real property held by any trustee of an express trust that is wholly or partially governed by a law of this state or any interest in real property located in this state that is held by the […]
Section 5815.16 | Duty of Attorney to Third Parties.
Effective: March 22, 2019 Latest Legislation: House Bill 595 – 132nd General Assembly (A) Absent an express agreement to the contrary, an attorney who performs legal services for a fiduciary, by reason of the attorney performing those legal services for the fiduciary, has no duty or obligation in contract, tort, or otherwise to any third […]
Section 5815.21 | Federal Estate Tax Marital Deduction Distributions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Whenever the executor of a will or the trustee of a testamentary or inter vivos trust is permitted or required to select assets in kind to satisfy a gift, devise, or bequest, whether outright or in trust, intended to qualify for the […]
Section 5815.22 | Spendthrift Provisions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A)(1) Except as provided in divisions (A)(2), (3), and (4) of this section, a spendthrift provision in an instrument that creates an inter vivos or testamentary trust shall not cause any forfeiture or postponement of any interest in property that satisfies both […]
Section 5815.23 | Effect of Requiring or Permitting Accumulation for More Than One Year of Any Income of Property.
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) Except as provided in division (B) of this section, an instrument that creates an inter vivos or testamentary trust shall not require or permit the accumulation for more than one year of any income of property that satisfies both of the […]
Section 5815.24 | Limitations on Liability.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) As used in this section, “fiduciary” means a trustee under any expressed, implied, resulting, or constructive trust; an executor, administrator, public administrator, committee, guardian, conservator, curator, receiver, trustee in bankruptcy, or assignee for the benefit of creditors; a partner, agent, officer […]
Section 5815.25 | Administrative Duties and Responsibilities of Trust; Exclusion of Fiduciaries.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) As used in this section, “fiduciary” means a trustee under any testamentary, inter vivos, or other trust, an executor or administrator, or any other person who is acting in a fiduciary capacity for any person, trust, or estate. (B) If an […]
Section 5815.26 | Holding Cash or Making Temporary Investments.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) As used in this section: (1) “Fiduciary” means a trustee under any testamentary, inter vivos, or other trust, an executor or administrator, or any other person who is acting in a fiduciary capacity for a person, trust, or estate. (2) “Short […]