The Ohio House and Senate unanimously passed Ohio’s Self-Settled Asset Protection Trust statute – HB 479. Ohio Governor John Kasich signed the bill on December 20 and it will become effective 90 days from that date.
This statute includes several miscellaneous asset protection and trust provisions, such as fixing IV QTIP issues, as well as the Ohio Legacy Trust Act (5816.01 et seq).
The bill is modeled after DE, NV, etc.
Source: ABA and Ohio Legislature
Posted by Steven Maimes, The Trust Advisor
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