Ohio § 5806.03
Full text of Ohio Ohio Revised Code § 5806.03, with citation guidance and answers to common questions.
§ 5806.03.
(A) During the lifetime of the settlor of a revocable trust, whether or not the settlor
has capacity to revoke the trust, the rights of the beneficiaries are subject to the
control of the settlor, and the duties of the trustee, including the duties to inform
and report under section 5808.13 of the Revised Code , are owed exclusively to the settlor. If the trustee breaches its duty during the lifetime of the settlor, any recovery
obtained from the trustee after the settlor becomes incapacitated or dies shall be
apportioned by the court. If the settlor is living when the recovery is obtained, the court shall apportion
the recovery between the settlor and the trust, or allocate the entire recovery to
the settlor or the trust, as it determines to be equitable under the circumstances. If the settlor is not living when the recovery is obtained, the court shall apportion
the recovery between the settlor's estate and the trust, or allocate the entire recovery
to the settlor's estate or the trust, as it determines to be equitable under the circumstances. (B) During the period the power may be exercised, the holder of a power of withdrawal
has the rights of a settlor of a revocable trust under this section to the extent
of the property subject to the power.
Frequently Asked Questions About Ohio § 5806.03
What does Ohio Revised Code § 5806.03 cover?
Section 5806.03 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 5806.03?
A common citation format is "Ohio Revised Code § 5806.03" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 5806.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.