Legal Question in Wills and Trusts in Ohio

Re: change of property in trusts

Yes, you will be able to sell your home held in a trust after marriage and continue to keep the sales proceeds in the existing trust or a new trust. You should not need to create a new trust. You will not need your spouse's signature to sell the house (no dower rights). You may have the trust use the sales proceeds to buy a new home owned by the trust. Under current law, your spouse will not be able to elect against the Will and take 1/3 of your property if all of your property is held in your trust. Since Ohio law may be amended in the near future to allow your spouse to claim a portion of your assets held in trust, you may want to consider a prenuptial agreement if both your husband and you have substantial assets.

Harold L. Hom