Effective: March 27, 2013
Latest Legislation: House Bill 479 - 129th General Assembly
(A) Any person may serve as an advisor of a legacy trust except that a transferor may act as an advisor only in connection with investment decisions.
(B) An advisor shall be considered a fiduciary unless the terms of a legacy trust instrument expressly provide otherwise.
Structure Ohio Revised Code
Chapter 5816 | Ohio Legacy Trust Act
Section 5816.01 | Short Title.
Section 5816.02 | Definitions.
Section 5816.03 | Spendthrift Provisions.
Section 5816.04 | Limits to Transferor's Authority.
Section 5816.05 | Permissible Retained Rights of a Transferor.
Section 5816.06 | Qualified Affidavits and Related Rules.
Section 5816.07 | Restrictions on Actions, Remedies, and Claims.
Section 5816.08 | Avoidance of Qualified Dispositions.
Section 5816.09 | Automatic Removal of Trustees; General Rules on Successor.
Section 5816.10 | Miscellaneous Rules; Conflicts, Tacking, Savings, Migration.
Section 5816.11 | Trust Advisors; Eligibility; Default Fiduciary Status.
Section 5816.12 | Rules Regarding Discretion.
Section 5816.13 | Discretionary Interests Not Property of a Beneficiary.