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Tag: ohio legacy trust act

Ohio Asset Protection: Loopholes and Limitations

Ohio Asset Protection: Loopholes and Limitations

The Ohio Legacy Trust Act goes into effect on March 27, 2013. The act purports to be a domestic asset protection trust solution. The reality is that Ohio is merely the latest state to enact law that protects assets from creditors “sometimes.”

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Ohio Legacy Trusts: A New “Protective” Trust Law?

Ohio Legacy Trusts: A New “Protective” Trust Law?

Ohio has joined the growing list of states which have enacted asset protection trust legislation. Chapter 5816, Revised Code of Ohio, enacts the Ohio Legacy Trust Act, which, on and after March 27, 2013, permits the creation of self-settled spendthrift trusts called “Legacy Trusts”.

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