Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
(A) A trustee may delegate duties and powers that a prudent trustee having comparable skills could properly delegate under the circumstances. In accordance with this division, a trustee shall exercise reasonable care, skill, and caution in doing all of the following:
(1) Selecting an agent, cotrustee, or other fiduciary to whom the delegation is made;
(2) Establishing the scope and terms of the delegation consistent with the purposes and terms of the trust;
(3) Periodically reviewing the agent's, cotrustee's, or other fiduciary's actions in order to monitor the agent's, cotrustee's, or other fiduciary's performance and compliance with the terms of the delegation.
(B) In performing a delegated function, an agent, cotrustee, or other fiduciary owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
(C) A trustee who complies with division (A) of this section is not liable to the beneficiaries of the trust or to the trust for the decisions or actions of the agent, cotrustee, or other fiduciary to whom the function was delegated.
(D) By accepting the delegation of powers or duties from the trustee of a trust that is subject to the laws of this state, an agent, cotrustee, or other fiduciary submits to the jurisdiction of this state.
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.