Legal Question in Wills and Trusts in Ohio
Clarification of law
2109.44 Prohibited transactions.
Fiduciaries shall not buy from or sell to themselves nor shall they in their individual capacities have any dealings with the estate.
I need clarificaiton on ''nor shall they in their individual capacities have any dealings with the estate''.
Asked on 4/24/07, 11:13 am
1 Answer from Attorneys
Nancy Fioritto Patete
Nancy Fioritto Patete, Esq.
Re: Clarification of law
A fiduciary has a responsibility to act on behalf of an estate and always in the best interest of the estate. A fiduciary acting "in an individual capacity" may have self-interest in mind.
Answered on 4/25/07, 6:16 am
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