Hahn Loeser Attorney Taylor Carlucci presented “Ohio Trust Accountings: Guidelines and Best Practices,” for 80 attendees on behalf of the Cleveland Metropolitan Bar Association’s Estate Planning Section.
Taylor discussed Ohio Revised Code Section 5808.13, which requires trustees to keep trust beneficiaries informed. She reviewed Ohio’s applicable rules and statutes as related to trust accountings, analyzed the practical meaning of “reasonable” versus “unreasonable,” and offered accounting tips and best practices. The Continuing Legal Education session also examined litigation-adverse strategies for record keeping, trust termination, the procedure for dealing with objections made by beneficiaries, and seeking Court approval of trust accountings.
