As used in sections 5905.01 to 5905.19, inclusive, of the Revised Code:

Terms Used In Ohio Code 5905.01

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiduciary: A trustee, executor, or administrator.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Property: means real and personal property. See Ohio Code 1.59
  • United States: includes all the states. See Ohio Code 1.59

(A) “Person” means an individual, a partnership, a corporation, or an association.

(B) “Veterans’ administration” means the veterans’ administration, its predecesssors, or successors.

(C) “Income” means moneys received from the veterans’ administration and revenue or profit from any property wholly or partially acquired therewith.

(D) “Estate” means income on hand and assets acquired partially or wholly with “income.”

(E) “Benefits” means all moneys paid or payable by the United States through the veterans’ administration.

(F) “Administrator” means the administrator of veterans’ affairs of the United States or his successor.

(G) “Ward” means a beneficiary of the veterans’ administration.

(H) “Guardian” means any fiduciary for the person or estate of a ward.