SUMMARY - Enacts Ohio R.C. 1107.081 to authorize the partitioning of personal property. (This is to facilitate IRS approval of disclaimer in joint and survivorship accounts.)

Amends Ohio R.C. 1335.01 to specify that a trust is valid regardless of the existence, size, or character of its corpus. (Supersedes Knowles v. Knowles)

Enacts Ohio R.C. 1339.411 to specify that a spendthrift provision in an inter vivos or testamentary trust generally does not cause a forfeiture or postponement of any property interest if the property is granted to the surviving spouse and it qualifies for marital deduction, unless the document states that a marital deduction is less important than enforcing the spendthrift provision.

Enacts Ohio R.C. 1339.67 to provide authority for the trustee of an inter vivos or testamentary trust to consolidate trusts or to divide a single trust into separate trusts if certain conditions are satisfied, and authorizes the trustee or a beneficiary of a trust to seek court approval of such consolidation or division and also authorizes the beneficiary to file objections to such consolidation or division.

Enacts Ohio R.C. 1340.21-23 to establish a general rule regarding a fiduciary's conflict of interest and the exercise of certain discretionary powers to distribute principal or income to a beneficiary by a beneficiary interested fiduciary for his own benefit, and provides exceptions to the general rule.

Amends Ohio R.C. 1775.01, 1782.01, and 1782.23 to modify the Uniform Partnership Law definition of a "person" to include fiduciaries and add a similar definition of the term in the Limited Partnership Law.

Amends Ohio R.C. 2107.52 to permit a testator to manifest the intent in his will that the anti-lapse statute not apply to the issue of predeceased relatives and includes as relatives those persons related by consanguinity to the testator and designated heirs at law.

Amend Ohio R.C. 2107.63 to specify that a testator may by will devise, bequest, or appoint a real or personal property interest to a trustee of a trust that is evidenced by a written instrument signed by the testator or another settlor either before or on the date of the execution of the testator's will, that is identified in the will, and that has been signed, or is signed at any time after the execution of the testator's will, by the trustee or another specified person.

Amends Ohio R.C. 2109.20 to require certain guardians to furnish to the Probate Court a title guarantee or a mortgagee's title insurance policy for the benefit of the guardianship when a mortgage upon unencumbered real estate is substituted for sureties on a guardian's bond.

Amends Ohio R.C. 2109.30 to eliminate certain account requirements in connection with testamentary charitable trusts that merge into qualified community foundations.

Enacts Ohio R.C. 3915.052 to provide that, on and after January 1, 1993, a life insurance company authorized to do business in Ohio generally must pay interest on any proceeds that become due pursuant to the terms of a life insurance policy other than a credit life insurance policy.

Amends Ohio R.C. 4507.52 governing the inclusion of driver's and commercial driver's licenses and state identification cards of an indication that the holder has executed a durable power of attorney for health care or a declaration governing life-sustaining treatment.

SUMMARY - Allows a charitable organization to be designated beneficiary in any policy of life insurance issued upon the life or lives of one or more individuals.

Any such institution has an insurable interest in the life of each insured and is entitled to enforce all rights and collect all benefits it is entitled to pursuant to the policy. The bill also applies to all policies, transfers of ownership, or designations of beneficiary issued before the effective date.

SUMMARY - This act recognized living wills as being valid in Ohio. It authorized the execution at any time of a declaration in which the declarant would specify whether he wishes life sustaining treatment to be used or continued, or withheld or withdrawn, by his attending physician if he should be in a terminal condition or in a permanently unconscious state, if his attending physician determines he is no longer able to make informed decisions regarding the administration of the treatment, and if his attending physician determines there is no reasonable possibility that he will regain the capacity to make those informed decisions.

It prescribes form and recordation requirements, physician responsibilities, and objection and complaint procedures involving the Probate Court, revocation authority, and limitations pertaining to comfort care with pregnant declarant, in connection with declarations.

The act also creates a procedure under which specified family members may give written consent to the withholding or withdrawal of life-sustaining treatment in connection with individuals in a terminal condition, or with individuals in a permanently unconscious state for at least the immediately preceding twelve months, who do not have any effective declaration or durable power of attorney for health care, and prescribes a related objection in complaint procedure involving the Probate Courts.

In enacts a procedure under which specified family members can give written consent to the withholding or withdrawal of nutrition and hydration in connection with non-declarants who currently are in and have been for at least the immediately preceding twelve months in a permanently unconscious state and under which the family members can obtain Probate Court's prior approval of the withholding or withdrawal of nutrition and hydration.

Amends the health care power of attorney law.