Section 5816.04 | Limits to Transferor’s Authority.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly To the extent conferred by the governing legacy trust instrument, a transferor to a legacy trust may have any or all of the rights, powers, and interests described in section 5816.05 of the Revised Code. A transferor shall have no rights, powers, […]
Section 5816.05 | Permissible Retained Rights of a Transferor.
Effective: August 17, 2021 Latest Legislation: House Bill 7 – 134th General Assembly A legacy trust may allow or provide for any or all of the following rights, powers, interests, or provisions, none of which grants, or is considered to be, either alone or in any combination, a right or power to revoke a trust […]
Section 5816.06 | Qualified Affidavits and Related Rules.
Effective: August 17, 2021 Latest Legislation: House Bill 7 – 134th General Assembly (A) Except as otherwise provided in this section, a transferor shall sign a qualified affidavit before or substantially contemporaneously with making a qualified disposition. (B) A qualified affidavit shall be notarized and shall contain all of the following statements under oath: (1) […]
Section 5816.07 | Restrictions on Actions, Remedies, and Claims.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) Notwithstanding any provision of law to the contrary but subject to division (G) of section 5816.10 of the Revised Code, no creditor may bring an action of any kind, including, but not limited to, an action to enforce a judgment entered […]