Ohio Code 5804.18 – When certain trust is irrevocable
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A trust described in 42 U.S.C. § 1396p(d)(4) is irrevocable if the terms of the trust prohibit the settlor from revoking it, whether or not the settlor’s estate or the settlor’s heirs are named as the remainder beneficiary or beneficiaries of the trust upon the settlor’s death.
Terms Used In Ohio Code 5804.18
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.