This bill amends various sections of the Ohio Revised Code to enhance the legal framework surrounding trusts, probate laws, and the responsibilities of fiduciaries. Key amendments include the introduction of new sections that define fraudulent transfers by debtors, particularly in relation to insolvency and the intent behind such transfers. The bill clarifies that transfers made due to a debtor's death are not actionable under certain provisions, providing a clearer framework for creditors and debtors. Additionally, it outlines the mandatory duties of agents under powers of attorney, emphasizing their obligation to act in the principal's best interest and preserve the principal's estate plan, while also allowing for judicial review of an agent's conduct.

Furthermore, the bill modifies the appointment criteria for administrators, executors, and trustees, allowing nonresidents related to the decedent to serve in these roles without being denied based on residency status. It also introduces provisions for the administration of intestate estates and clarifies fiduciary responsibilities regarding trust management, including the treatment of future interests and trustee liabilities. The bill establishes clearer guidelines for the roles of protectors and advisors within legacy trusts, ensuring accountability and proper governance. Overall, the amendments aim to modernize trust law in Ohio, enhance clarity for trustees and beneficiaries, and ensure that fiduciaries are held accountable while providing necessary protections.

Statutes affected:
As Introduced: 1336.04, 1336.05, 1336.09, 1337.34, 1337.36, 1337.42, 1337.52, 2117.02, 5701.11, 5801.04, 5801.07, 5806.02, 5806.03, 5808.19, 5810.08, 5812.43, 5815.25, 5816.11, 5808.08
As Reported By House Committee: 1336.04, 1336.05, 1336.09, 1337.34, 1337.36, 1337.42, 1337.52, 2109.21, 2113.06, 2117.02, 5301.071, 5701.11, 5801.04, 5801.07, 5806.02, 5806.03, 5808.19, 5810.08, 5812.43, 5815.25, 5816.11, 5808.08
As Passed By House: 1336.04, 1336.05, 1336.09, 1337.34, 1337.36, 1337.42, 1337.52, 2109.21, 2113.06, 2117.02, 5301.071, 5701.11, 5801.04, 5801.07, 5806.02, 5806.03, 5808.19, 5810.08, 5812.43, 5815.25, 5816.11, 5808.08