QUESTION
Can my mother transfer a trust from a Columbus, OH attorney to one in Lima, OH?
Asked on Sep 05th, 2012 on Trusts and Estates - Ohio
More details to this question:
In 1999 my parents had a trust drawn up from an attorney in Columbus, OH. In 2005 both my father and the attorney that drew up the trust passed. We have just recently found out that another attorney took over for the attorney that passed. We found this out from aggressive investment salesmen connected to the later atttoney. We would like to transfer this trust to an attorney in our area that we know and trust. What expenses would we incur if we did this or can we do it without having to have a new trust drawn up?
1 ANSWER
Tonya Coles
What you can do depends on the terms of the trust. Schedule an appointment with the attorney that you know and trust. Take a copy of the trust with you to the appointment. The attorney can read the trust to determine if the transfer is permitted. If the trust does not say what happens in the event that a beneficiary wants to change trustees (I'm assuming that the attorney is acting as the trustee), then Ohio law will determine what is permitted.
Tonya R. Coles
Elder Law -- Estate Planning -- Probate
www.tonyacoles.com
Answered on Sep 06th, 2012 at 12:29 PM