OHIO TRUST LAW
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Ohio Trust Code
- HB 416 adopted the Ohio Trust Code and amended the Ohio Uniform Prudent Investor Act
- Summary of the Law: The Legislative Service Commission’s Final Bill Analysis can be found at LSC Final Analysis
1. Regulate the creation, administration, modification, and termination of trusts and the powers and duties of settlors, trustees, beneficiaries, and the courts;
- According to the Legislative Service Commission, the law will:
2. Provide for private settlement agreements among beneficiaries; and
3. Move various sections of the Ohio Revised Code, including the Uniform Principal and Income Act, the Institutional Trust Funds Act, and the Ohio Transfers to Minors Act, into Revised Code Chapters 5812, 5813, 5814, and 5815.
- Uniform Trust Code: To see the Uniform Trust Code, on which the Ohio Trust Code is based: UTC Online
- Articles on the Ohio Trust Code:
- Brucken, Robert M., The New Ohio Trust Code and Probate Avoidance, 78 (No. 2) CLEVELAND BAR JOURNAL (DEC. 2006)
- Hindel, Joanne F., The Evolution of Ohio Trust Law, CLEVELAND BAR JOURNAL, June 2006
- Newman, Alan., Ohio Adopts New Trust Code, OHIO LAWYER, Sept/Oct 2006, page 9.
- There are many articles on the new Ohio Trust Code in the PROBATE LAW JOURNAL OF OHIO. A copy of these articles is contained in "Merrick-Rippner Probate Laws & Rules Annotated, The Ohio Trust Code Supplement", 2006, published by Thomson West. This book also contains the text of the act and the new Ohio Revised Code sections.
- Changes in Ohio Law by Adoption of Uniform Trust Code, December 2002 OSBA CLE program on the UTC
- Newman, Alan, Ohio Adopts new trust code, 20 (No. 5) OHIO LAWYER, Sept./Oct. 2006
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September 06, 2006 -