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Powers Of Withdrawal, Claims For Set-Off, And Spendthrift Protection, Alan Newman

Akron Law Faculty Publications

If a beneficiary of a spendthrift trust has a right to withdraw property from the trust, may the beneficiary’s creditors reach the assets subject to the withdrawal power? That was the principle question recently addressed by the 1st District Court of Appeals in Great American Insurance Company v. Thompson Trust. Also of interest: the case may have involved an offset by the trustee of amounts distributable to the beneficiary to repay amounts owed by the beneficiary to the trust.

Report On Hb 416: The Ohio Trust Code As Enacted, Alan Newman

Akron Law Faculty Publications

Report on HB 416: The Ohio Trust Code As Enacted

This Report begins with a discussion of policy considerations related to the 2007 enactment of the Ohio Trust Code (OTC). Next, it discusses how the OTC will be incorporated into the Ohio Revised Code. The Report then discusses many of the OTC’s provisions, in the same order as those provisions are included in the OTC. The focus of the discussion of OTC provisions is on those that will change existing Ohio law, or that are changes from the Uniform Trust Code (UTC). Thus, the Report does not provide a general …

Powers Of Withdrawal, Claims For Set-Off, And Spendthrift Protection, Alan Newman

Alan Newman

If a beneficiary of a spendthrift trust has a right to withdraw property from the trust, may the beneficiary’s creditors reach the assets subject to the withdrawal power? That was the principle question recently addressed by the 1st District Court of Appeals in Great American Insurance Company v. Thompson Trust. Also of interest: the case may have involved an offset by the trustee of amounts distributable to the beneficiary to repay amounts owed by the beneficiary to the trust.

Report On Hb 416: The Ohio Trust Code As Enacted, Alan Newman

Alan Newman

Report on HB 416: The Ohio Trust Code As Enacted

This Report begins with a discussion of policy considerations related to the 2007 enactment of the Ohio Trust Code (OTC). Next, it discusses how the OTC will be incorporated into the Ohio Revised Code. The Report then discusses many of the OTC’s provisions, in the same order as those provisions are included in the OTC. The focus of the discussion of OTC provisions is on those that will change existing Ohio law, or that are changes from the Uniform Trust Code (UTC). Thus, the Report does not provide a general …