Ohio Revised Code Chapter 5808 - Trust Administration

• Section 5808.01 - Duties Of Trustee Generally.
  Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests...
• Section 5808.02 - Duty Of Loyalty To Beneficiaries - Voidable Transactions - Conflicts Of Interest.
  (A) A trustee shall administer the trust solely in the interests of the beneficiaries. (B) Subject to the rights of persons dealing with or...
• Section 5808.03 - Multiple Beneficiaries - Duty Of Impartiality.
  If a trust has two or more beneficiaries, the trustee shall act impartially in investing , managing, and distributing the trust property, giving due...
• Section 5808.04 - Duty To Act As Prudent Person.
  A trustee shall administer the trust as a prudent person would and shall consider the purposes, terms, distributional requirements, and other circumstances of the...
• Section 5808.05 - Reasonable Administrative Costs Allowed.
  Except as otherwise permitted by law, in administering a trust , a trustee may incur only costs that are appropriate and reasonable in relation...
• Section 5808.06 - Trustee To Use Any Special Skills Or Expertise.
  A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills...
• Section 5808.07 - Delegation Of Powers And Duties.
  (A) A trustee may delegate duties and powers that a prudent trustee having comparable skills could properly delegate under the circumstances. In accordance with...
• Section 5808.08 - Direction Of Settlor Contrary To Terms - Power Of Modification.
  (A) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust....
• Section 5808.09 - Taking Control And Protection Of Property.
  A trustee shall take reasonable steps to take control of and protect the trust property. Effective Date: 01-01-2007
• Section 5808.10 - Adequate Records Of Administration.
  (A) A trustee shall keep adequate records of the administration of the trust. (B) A trustee shall keep trust property separate from the trustee's...
• Section 5808.11 - Enforcement And Defense Of Claims.
  A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. Effective Date: 01-01-2007
• Section 5808.12 - Collection Of Trust Property - Successor Trustees.
  A trustee shall take reasonable steps to collect trust property held by third persons. The responsibility of a successor trustee with respect to the...
• Section 5808.13 - Keeping Beneficiaries Informed - Requests - Required Reports.
  (A) A trustee shall keep the current beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts...
• Section 5808.14 - Judicial Standard Of Review For Discretionary Trusts.
  (A) The judicial standard of review for discretionary trusts is that the trustee shall exercise a discretionary power reasonably, in good faith, and in...
• Section 5808.15 - General Powers Of Trustee.
  (A) A trustee, without authorization by the court, may exercise powers conferred by the terms of the trust and, except as limited by the...
• Section 5808.16 - Specific Powers Of Trustee.
  Without limiting the authority conferred by section 5808.15 of the Revised Code, a trustee may do all of the following: (A) Collect trust property...
• Section 5808.17 - Powers And Duties Of Trustee On Termination; Protection From Liability.
  (A) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any...
• Section 5808.18 - Trustee's Power To Make Distributions In Further Trust.
  (A) Unless the trust instrument expressly provides otherwise and subject to the limitations set forth in this section, all of the following apply: (1)...
• Section 5808.19 - Antilapse Provisions; Survivorship With Respect To Future Interests; Substitute Gifts.
  (A) As used in this section, unless otherwise provided in any other provision in this section: (1) "Beneficiary" means the beneficiary of a future...

Last modified: October 10, 2016