If you have a trust in Ohio, your trust, is a private document that is normally never made public, during your life or at your death, no third party needs to know who gets what and how much unless you want them to know.

Since 2007, Ohio adopted provisions of the Uniform Trust Code, allowing third parties to accept a Memorandum of Trust. This allows, for example, a bank or a title agency to happily accept a Memorandum in lieu of having their legal department review your entire trust. Basically, this is a statement, signed by the trustee, which provides the requester only the bare essential information of the trust needed to complete your transaction.  This Memorandum must be recorded in the county where the property is located.

A win, win for both parties. If you require a Memorandum of Trust, have your attorney prepare one for you. For the requirements of a Memorandum of Trust, see ORC 5301.255.

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