OH HB446

Establishes comprehensive Ohio Trust Protector and Directed Trust Act (Chapter 5818) creating a legal framework for trust protectors who can issue binding directives to trustees regarding investments, administration, distributions, and trust modifications without serving concurrently as trustee

Exempts transfers made due to or resulting from a debtor's death from fraudulent transfer claims under Ohio's Uniform Fraudulent Transfer Act, with a 6-month statute of limitations for any death-related transfer claims

Clarifies that agents under powers of attorney cannot exercise a settlor's rights to withdraw or direct distribution of revocable trust property unless both the power of attorney and trust instrument expressly authorize such actions

Authorizes trustees to reimburse grantor trust owners for income tax liability attributable to trust income without such reimbursement being considered a distribution to beneficiaries, with disbursements charged to principal

Expands the definition of "beneficiary" for trust anti-lapse provisions to include beneficiaries of future interests, and clarifies that trustees may follow settlor directions contrary to trust terms while the trust remains revocable