Delaying the Distribution of Property to a Young Person

A sharpened tool is available for those who want to delay the distribution of property to a beneficiary over age 21, but who do not want to incur the expense of setting up a Trust.  While there are good reasons to set up a Trust, thanks to a change in Ohio law, a Trust is not the only way to delay distribution past 21.

Kids spending money at 18 | Farah Roberts Ltd.In Ohio, if a beneficiary is under 18 at the time property is to be distributed, that property is paid to a court appointed Guardian.  Management of the property in a Guardianship is under Court supervision.  At age 18, the property in the Guardianship will be distributed to the beneficiary.

In our Wills, we said that if a beneficiary is under 21 at the time he or she is to receive property, the property is to be distributed to a Custodian under the Ohio Transfer to Minors Act.  This would tie the property up until age 21.  Usually, an 18 year old beneficiary is less mature than a 21 year old.  We have yet to find a client who disagrees with us.

Under the change in Ohio law, with the proper language, the distribution of gift to a minor can be extended to age 25.  At age 25, a beneficiary hopefully is more matured, and his or her college or other education is probably completed.

For property to be tied up until 25, the proper language must be in the Will. 

If you would like to change your Will to take advantage of this change in the law, please contact us.

-Benjamin F. Farah

Wills (2)
General (2)
Estate Planning (2)
Pets (1)
Guidance (1)
Probate (1)
Business Transactions (1)
Guardianship (1)
Transfers To Minors (1)
+ Show More

We provide legal services to individuals and their businesses, primarily in the areas of Estate Planning (will, trusts, & powers of attorney), Probate, working with Small (closely held) Businesses, and Medicaid Planning.

Office Hours

Monday-Friday: 8:30am to 5pm

Saturday: By Appointment

Sunday: Closed

Privacy Policy | Disclaimer

Contact Info

You can always contact us via email or phone.

Location Icon | River LAw1154 Linda St.
Rocky River, OH 44116
Phone Icon | River Law (440) 331-0801
Email Icon

© , Farah, Roberts & Ganor, Ltd. Powered by Virteom Logo Virteom