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Core duties · 4 мин чтения
Adequate records and separate property
R.C. 5808.10 provides that a trustee keeps adequate records of the administration of the trust, keeps trust property separate from the trustee's own property and, unless subject to banking regulation, causes the trust property to be designated so that the trust's interest appears, so far as feasible, in records maintained by a party other than a trustee or beneficiary. A trustee keeping records that clearly show the respective interests may invest the property of two or more trusts as a whole.
What the report and the court account draw on
The trustee's report lists the trust property, liabilities, receipts and disbursements, the source and amount of the trustee's compensation, the assets and, if feasible, their market values (R.C. 5808.13(C)). A testamentary trustee's account to the probate court itemizes receipts, disbursements and distributions verified by vouchers or proof, shows principal and income separately, and is accompanied by the securities and bank statements for the court's examination (R.C. 2109.303(A)). Records kept as the administration goes are what both draw on; a report that adequately discloses a potential claim starts the two-year limitation period (R.C. 5810.05).
Titling property to the trustee
Personal property is transferred to a trustee by a written instrument that identifies the property and names the trustee followed by "trustee"; a beneficiary designation or other future transfer so made is a transfer to the trustee serving at the time (R.C. 5810.14). A trustee's contract that disclosed the fiduciary capacity — "trustee" or "as trustee" after the signature — does not bind the trustee personally (R.C. 5810.10(A)). When a trustee conveys real property, a memorandum of trust is of record with the county recorder (R.C. 5301.255).
Законы, дословно
Testamentary trustee rendering account
R.C. 2109.303 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Adequate records of administration
R.C. 5808.10 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Keeping beneficiaries informed - requests - required reports
R.C. 5808.13 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Transfer of personal property to trustee
R.C. 5810.14 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Частые вопросы
Must an Ohio trustee keep trust money in a separate account?
A trustee keeps trust property separate from the trustee's own property and causes it to be designated so that the trust's interest appears in a third party's records, so far as feasible (R.C. 5808.10(B), (C)).
How long should an Ohio trustee keep records?
The statute sets no retention period; the trustee's report is at least annual and at termination (R.C. 5808.13(C)), the limitation period runs two years from a report that adequately discloses a claim and otherwise up to four years after the trust ends or the trustee leaves (R.C. 5810.05). How long to keep the record is a question for a licensed Ohio attorney of your choosing.
How does an Ohio trustee sign a contract?
With words that indicate the trustee capacity — "trustee," "as trustee," "fiduciary" or "as fiduciary" after the name or signature — which is sufficient disclosure to avoid personal liability on a contract properly entered into (R.C. 5810.10(A)).
По теме
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