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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Estate Law
Satisfied Customers: 117370
Experience:  Experienced in Trust and Succession Law, including Louisiana Laws
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This situation applies to Ohio law wherein the decedent

Customer Question

This situation applies to Ohio law wherein the decedent (resident of Ohio) passed away with a will and trust stipulating that approximately 10% of her assets were to be divided among her 6 great grandchildren essentially for their education and well being. If any of their individual assets were still left by the age of 25, they are to receive 1/2 and by age 30 the remaining balance of what was due the individual although the number one stipulation was for education. These individual trusts (sub-accounts) approximate $21,000 per great grandchild. To eliminate future administrative costs, fees, etc. and to ensure funds available for college by the age of 18, it is the wishes of the majority of co-trustees (grandparents) to disburse the funds immediately to the lineal great grandchild's parents as trust advisors to properly monitor and safeguard until the great grandchildren reach the age of 18 (currently ages of 16, 14, 12, 11). All great grandchildren are out of state as are their biological parents. The will and trust have already been probated with the bulk of the assets already distributed. All that remains are these somewhat small trusts or sub-accounts. Can this be done under Ohio Law?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

The executor/trustee must abide by the terms of the trust/will as set up. The only way they can disburse the money contrary to the terms of the trust/will is by agreement of all of the parties AND a court order. So the trustee/executor would have to file a petition in the court to ask the court to approve this type of disbursement contrary to the terms of the will/trust and explain the good cause for doing so and if the court agrees, then it may be legally done.