Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.
Structure Ohio Revised Code
Chapter 5808 | Trust Administration
Section 5808.01 | Duties of Trustee Generally.
Section 5808.02 | Duty of Loyalty to Beneficiaries - Voidable Transactions - Conflicts of Interest.
Section 5808.03 | Multiple Beneficiaries - Duty of Impartiality.
Section 5808.04 | Duty to Act as Prudent Person.
Section 5808.05 | Reasonable Administrative Costs Allowed.
Section 5808.06 | Trustee to Use Any Special Skills or Expertise.
Section 5808.07 | Delegation of Powers and Duties.
Section 5808.08 | Direction of Settlor Contrary to Terms - Power of Modification.
Section 5808.09 | Taking Control and Protection of Property.
Section 5808.10 | Adequate Records of Administration.
Section 5808.11 | Enforcement and Defense of Claims.
Section 5808.12 | Collection of Trust Property - Successor Trustees.
Section 5808.13 | Keeping Beneficiaries Informed - Requests - Required Reports.
Section 5808.14 | Judicial Standard of Review for Discretionary Trusts.
Section 5808.15 | General Powers of Trustee.
Section 5808.16 | Specific Powers of Trustee.
Section 5808.17 | Powers and Duties of Trustee on Termination; Protection From Liability.
Section 5808.18 | Trustee's Power to Make Distributions in Further Trust.