Trust advisors; eligibility; default fiduciary status
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.
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.