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Can I Appoint an Out of State Trustee For My Trust?

Can I Appoint an Out of State Trustee For My Trust?

Q: What are the qualifications for a trustee in Ohio?

In Ohio, a trustee must be at least 18 years old and have the legal capacity to manage property. There are no specific qualifications regarding residency, allowing both residents and non-residents to serve as trustees.

Q: Can an Ohio trust have multiple trustees?

Yes, an Ohio trust can have multiple trustees. Co-trustees can work together to manage the trust, but it's important to outline their roles and responsibilities clearly in the trust document to avoid conflicts.

Q: What is a revocable trust in Ohio?

A revocable trust in Ohio is a legal arrangement where the grantor retains control over the trust assets during their lifetime. They can modify or revoke the trust at any time, making it a flexible estate planning tool.

Q: What happens if a trustee moves out of state?

If a trustee moves out of state, they can continue to serve as trustee of the Ohio trust. However, it's advisable to consult with an attorney to ensure compliance with any potential legal implications or administrative requirements.

Full question:

Can a relative who is a resident of Indiana serve as trustee of my Ohio-generated revocable trust?

Category: Trusts
Date: 04/07/2025
State: Ohio

Answer:

Yes, it is possible to name an out-of-state trustee. Please read the following article for further discussion:

http://www.elder-law.com/2000/Issue809.html

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Can a non-resident serve as a trustee in Ohio?

Yes, a non-resident can serve as a trustee for a trust created in Ohio. There are no residency requirements for trustees of revocable trusts in Ohio. This allows individuals from other states to manage and oversee the trust's assets.