Article on Ohio Legacy Trust Act and Asset Protection Trust Implications

Kevin R. McKinnis (Associate Editor, Cleveland State Law Review) recently published an article entitled, The Good, the Bad and the Poor Man’s Prenup: An Analysis of the Ohio Legacy Trust Act and What Asset Protection Trusts Will Mean for Ohio, ( March 18, 2013). Provided below is abstract from SSRN:

This law review note, forthcoming in The Cleveland State LawReview, provides an in-depth analysis of the Ohio Legacy Trust Act and exploresthe potential effects the Act will have on Ohio. This note also explores therequirements to establish a Legacy Trust and the potential federal income andestate tax consequences. In the latter portion of the note, the possibleethical implications for Ohio attorneys is examined, as well as the argumentscreditors will make when attempting to void a disposition to a Legacy Trust.