Effective: March 27, 2013
Latest Legislation: House Bill 479 - 129th General Assembly
Except to the extent expressly provided otherwise by the terms of a legacy trust instrument, each trustee and each advisor of a legacy trust shall have the greatest discretion permitted by law in connection with all matters of trust administration, all trust distributions, and all other trustee or advisor decisions.
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.