Title [58] LVIII TRUSTS
- Chapter 5801: OHIO TRUST CODE
- 5801.01 General definitions.
- 5801.011 Short title.
- 5801.02 Application of trust chapters.
- 5801.03 Actual and constructive knowledge of facts.
- 5801.04 Trustee powers, duties, and relations - beneficiaries' rights.
- 5801.05 Application of common law and equity principles.
- 5801.06 Designated jurisdiction - controlling law.
- 5801.07 Connection with designated jurisdiction - transfer.
- 5801.08 Methods of notice - waiver.
- 5801.09 Notice to beneficiary by request.
- 5801.10 Agreement among interested parties regarding trust matters.
- 5801.11 Guardian to comply with duties under RC Chapter 2111.
- Chapter 5802: JURISDICTION OF COURT
- Chapter 5803: REPRESENTATIVES
- Chapter 5804: CREATION, MODIFICATION, REVOCATION, AND TERMINATION
- 5804.01 Methods of creation of trusts.
- 5804.02 General requirements for creation of trust.
- 5804.03 Validity of nontestamentary trusts.
- 5804.04 Trust purposes must be legitimate.
- 5804.05 Purposes of charitable trust - enforcement.
- 5804.06 Trust induced by fraud, duress, or undue influence void.
- 5804.07 Written instrument not required.
- 5804.08 Trust to provide for care of animal.
- 5804.09 Trust created for noncharitable purpose.
- 5804.10 Termination of trust by revocation or by terms.
- 5804.11 Termination or modification of noncharitable irrevocable trust.
- 5804.12 Judicial action due to change of circumstances.
- 5804.13 Judicial action where charitable purpose frustrated.
- 5804.14 Termination or modification where costs exceed value.
- 5804.15 Reformation to conform to settlor's intention.
- 5804.16 Modification to achieve settlor's tax objectives.
- 5804.17 Combination or division of trusts.
- 5804.18 When certain trust is irrevocable.
- Chapter 5805: SPENDTHRIFT TRUST PROVISIONS
- 5805.01 Validity and effect of spendthrift provisions.
- 5805.02 Enforceability and enforcement of spendthrift provisions.
- 5805.03 Creditors of discretionary trust beneficiary may not reach interest.
- 5805.04 Creditor may not compel discretionary distribution - exceptions.
- 5805.05 Attachment of mandatory distributions absent spendthrift provision.
- 5805.06 Rights of settlor's creditors - power of withdrawal.
- 5805.07 Trust property not subject to personal obligations of trustee.
- Chapter 5806: POWERS OF SETTLOR
- Chapter 5807: TRUSTEES
- 5807.01 Acceptance or rejection of trusteeship.
- 5807.02 Bond of trustee.
- 5807.03 Cotrustees - delegation - liability.
- 5807.04 Vacancy defined - priority in filling - additional trustees.
- 5807.05 Resignation of trustee - notice - approval.
- 5807.06 Removal of trustee - grounds - protective measures.
- 5807.07 Powers and duties of removed or resigned trustee.
- 5807.08 Compensation of trustee.
- 5807.09 Reimbursement of trustee for administrative expenses.
- Chapter 5808: TRUST ADMINISTRATION
- 5808.01 Duties of trustee generally.
- 5808.02 Duty of loyalty to beneficiaries - voidable transactions - conflicts of interest.
- 5808.03 Multiple beneficiaries - duty of impartiality.
- 5808.04 Duty to act as prudent person.
- 5808.05 Reasonable administrative costs allowed.
- 5808.06 Trustee to use any special skills or expertise.
- 5808.07 Delegation of powers and duties.
- 5808.08 Direction of settlor contrary to terms - power of modification.
- 5808.09 Taking control and protection of property.
- 5808.10 Adequate records of administration.
- 5808.11 Enforcement and defense of claims.
- 5808.12 Collection of trust property - successor trustees.
- 5808.13 Keeping beneficiaries informed - requests - required reports.
- 5808.14 Judicial standard of review for discretionary trusts.
- 5808.15 General powers of trustee.
- 5808.16 Specific powers of trustee.
- 5808.17 Powers and duties of trustee on termination.
- Chapter 5809: OHIO UNIFORM PRUDENT INVESTOR ACT
- 5809.01 Trustee duty to comply with act.
- 5809.02 Standard of care - portfolio strategy - risk and return objectives.
- 5809.03 Investment authority - diversification.
- 5809.04 Duties at inception of trusteeship.
- 5809.05 Reviewing compliance.
- 5809.06 Delegation of investment and management functions.
- 5809.07 Language invoking standard of act.
- 5809.08 Application and construction.
- Chapter 5810: BREACH OF TRUST
- 5810.01 Breach of trust defined - judicial remedies.
- 5810.02 Liability to beneficiaries for breach - contribution.
- 5810.03 Trustee not accountable or liable for profit or loss absent breach.
- 5810.04 Award of costs, expenses, and attorney fees from trust.
- 5810.05 Limitations period for action against trustee.
- 5810.06 Trustee reliance on terms of trust.
- 5810.07 Reasonable care to ascertain material event.
- 5810.08 Enforceability of exculpatory trust term.
- 5810.09 Beneficiary consent to conduct constituting breach.
- 5810.10 Personal contract and tort liability of trustee.
- 5810.11 Personal liability of trustee on contract as partner.
- 5810.12 Person assisting or dealing with trustee in good faith.
- 5810.13 Certification of trust furnished to person not beneficiary.
- Chapter 5811: APPLICATION AND CONSTRUCTION OF CODE
- Chapter 5812: UNIFORM PRINCIPAL AND INCOME ACT
- 5812.01 Uniform principal and income act definitions.
- 5812.02 Fiduciary duties - general principles.
- 5812.03 Trustee's power to adjust.
- 5812.07 Determination and distribution of net income.
- 5812.08 Distribution to residuary and remainder beneficiaries.
- 5812.12 When right to income begins and ends.
- 5812.13 Apportionment of receipts and disbursements when decedent dies or income interest begins.
- 5812.14 Apportionment when income interest ends.
- 5812.18 Character of receipts.
- 5812.19 Distribution from trust or estate.
- 5812.20 Business and other activities conducted by trustee.
- 5812.24 Principal receipts.
- 5812.25 Rental property.
- 5812.26 Obligation to pay money.
- 5812.27 Insurance policies and similar contracts.
- 5812.31 Insubstantial allocations not required.
- 5812.32 Deferred compensation, annuities and similar payments.
- 5812.33 Liquidating asset.
- 5812.34 Minerals, water and other natural resources.
- 5812.35 Timber.
- 5812.36 Property not productive of income.
- 5812.37 Derivatives and options.
- 5812.38 Asset-backed securities.
- 5812.42 Disbursements from income.
- 5812.43 Disbursements from principal.
- 5812.44 Transfers from income to principal for depreciation.
- 5812.45 Transfers from income to reimburse principal.
- 5812.46 Income taxes.
- 5812.47 Adjustments between principal and income because of taxes.
- 5812.51 Citing chapter.
- 5812.52 Application to existing trusts and estates.
- Chapter 5813: INSTITUTIONAL TRUST FUNDS ACT
- 5813.01 Institutional trust funds act definitions.
- 5813.02 Maximum annual distribution from institutional trust fund.
- 5813.03 Settlor's intention that income be otherwise determined.
- 5813.04 Standard of care.
- 5813.05 Exemption.
- 5813.06 Relationship of chapter to uniform management of institutional funds act.
- 5813.07 Citing act.
- Chapter 5814: OHIO TRANSFERS TO MINORS ACT
- 5814.01 Transfers to minors act definitions.
- 5814.02 Subject of gift or transfer.
- 5814.03 Effect of gift or transfer.
- 5814.04 Custodian - powers and duties.
- 5814.05 Fees and compensation of custodian.
- 5814.06 Responsibility of issuer, transfer agent, financial institution, broker, or life insurance company.
- 5814.07 Successor custodian.
- 5814.08 Accounting by and determination of liability of custodian.
- 5814.09 Applicability and construction.
- Chapter 5815: MISCELLANEOUS PROVISIONS
- 5815.01 Inheritance and bequest defined.
- 5815.02 Issuers of securities and holders of record.
- 5815.03 Issuer of securities may treat holders of record as competent.
- 5815.04 Uniform fiduciary act definitions.
- 5815.05 Transferee not responsible for proper application of money.
- 5815.06 Deposit in name of fiduciary as such - liability of bank.
- 5815.07 Check drawn by fiduciary upon account of his principal - liability of bank.
- 5815.08 Deposit to personal credit of fiduciary.
- 5815.09 Deposit in name of two or more trustees - checks.
- 5815.10 Interpretation and construction.
- 5815.11 Rules of law and equity applicable.
- 5815.12 Power of appointment defined.
- 5815.13 Exercising power of appointment.
- 5815.14 Release and disclaimer of a power.
- 5815.15 Notice of release.
- 5815.16 Duty of attorney to third parties.
- 5815.21 Federal estate tax marital deduction distributions.
- 5815.22 Spendthrift provisions.
- 5815.23 Effect of requiring or permitting accumulation for more than one year of any income of property.
- 5815.24 Limitations on liability.
- 5815.25 Exclusion of fiduciaries.
- 5815.26 Holding cash or making temporary investments.
- 5815.27 Application of generation-skipping transfer tax provisions.
- 5815.28 Supplemental services for beneficiary with physical or mental disability.
- 5815.31 Termination of marriage revokes any trust provision conferring a beneficial interest or a power or nomination.
- 5815.32 Revocation of power of attorney upon termination of marriage or entering separation agreement.
- 5815.33 Termination of marriage revokes designation of spouse as beneficiary.
- 5815.34 Termination of marriage affects survivorship rights.
- 5815.35 General partners acting as fiduciary.
- 5815.36 Disclaiming testamentary and nontestamentary succession to real and personal property.
- 5815.41 Consignment of art works definitions.
- 5815.42 Art dealer's acceptance of work on consignment from artist.
- 5815.43 When work of art ceases to be trust property.
- 5815.44 Work of art not subject to claims of creditors of art dealer.
- 5815.45 Written contract prerequisite for accepting work of art.
- 5815.46 Display conditions.
- 5815.47 Waiver of provisions is void.
- 5815.48 Liability for violations.