Ohio Rev. Code Ann. § 5801.21 – Concluding trustee's administration of irrevocable trust | Midpage
§ 5801.21
Ohio Rev. Code Ann. § 5801.21
Concluding trustee's administration of irrevocable trust
Effective Apr 3, 2023Senate Bill 202 - 134th General Assembly
(A) A trustee may, but is not required to, use the process prescribed in sections 5801.22 and 5801.23 of the Revised Code, as applicable, when concluding the trustee's administration of an irrevocable trust.
(B) Sections 5801.20 to 5801.24 of the Revised Code do not apply to a testamentary trust subject to the supervision of a probate court.
(C) Except as otherwise provided in the Revised Code or other applicable law, including the common law, the provisions of sections 5801.22 and 5801.23 of the Revised Code may be used in combination with or in lieu of other options or proceedings available under the Revised Code or other applicable law, including the common law.
(D) A trustee's substantial good-faith compliance with the requirements concerning the contents of the notices described in division (B) of section 5801.22 and division (B) of section 5801.23 of the Revised Code is deemed sufficient.