Subject to section 2109.372 of the Revised Code, a fiduciary who has funds belonging to a trust that are not required for payment of current obligations of the fiduciary's trust or distribution shall, unless otherwise ordered by the probate court, invest those funds within a reasonable time according to section 2109.37 or 2109.371 of the Revised Code. On failure to do so, the fiduciary shall account to the trust for any loss of interest that is found by the court to be due to the fiduciary's negligence.
Notes of Decisions
Cited in 8
cases (2 in the last 5 years), 1955–2025 · leading case: In Re Testamentary Trust of Hamm, 707 N.E.2d 524 (Ohio Ct. App. 11th Dist. 1997).
In Re Testamentary Trust of Hamm, 707 N.E.2d 524 (Ohio Ct. App. 11th Dist. 1997). · cites it 9דOn a more substantive level, a fiduciary “who has funds belonging to a trust which are not required for payment of current obligations of his trust or distribution shall, unless otherwise ordered by the probate court, invest such funds within a reasonable time according to…”
Stevens v. Nat'l City Bank, 544 N.E.2d 612 (Ohio 1989). “IIA Scott, supra, at 542, Section 181; R.C. 2109.42. In doing so, the trustee is under a duty to make such investments “in such securities as would be acquired by prudent men of discretion and intelligence in such matters who are seeking a reasonable income and the preservation…”
Whitaker v. Est. of Whitaker, 663 N.E.2d 681 (Ohio Ct. App. 4th Dist. 1995). “R.C. 2109.42. See, also, In re Shanafelt’s Estate (1955), 164 Ohio St.”
Miller v. Yocum, 256 N.E.2d 208 (Ohio 1970). · cites it 2דThe reasoning in that case was that since the portion of the contract requiring payment of interest had ceased to exist, the guardian was required, by Section 2109.42, Revised Code, to sell the bonds and reinvest the funds.”
O'Neill v. Comm'r, 98 T.C. 227 (Tax Ct. 1992). “Under this standard a trustee's investment decisions are evaluated in light of all the surrounding circumstances to determine whether the trustee acted honestly, in good faith, and with the degree of care and prudence which an ordinary person would exercise in the transaction of…”
Lelak v. Lelak, 2022-Ohio-3458. “42, which states that trustees who have funds belonging to a trust are to invest them, and if they fail to do so, “the fiduciary shall account to the trust for any loss of interest that is found by the court to be due to the fiduciary's negligence.”
Paul v. Kingsbury, 2025-Ohio-2865. · cites it 2ד(R.C. 2109.42). Although the court discussed in dicta the allowance of interest either at the statutory or legal rate, the court held that R.”
Wetherill v. Danner, 164 Ohio St. (N.S.) 258 (Ohio 1955). · cites it 2ד’ ’ Section 2109.42, Revised Code, provides: “A fiduciary who has funds belonging to a trust which are *260 not required for current expenditures shall, unless otherwise ordered by the Probate Court, invest or deposit such funds within a reasonable time according to Section 2109.”
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