Ohio Code § 5815.23

§ 5815.23.

(A) Except as provided in division (B) of this section, an instrument that creates an

inter vivos or testamentary trust shall not require or permit the accumulation for

more than one year of any income of property that satisfies both of the following: (1) The property is granted to a surviving spouse of the testator or other settlor. (2) The property qualifies for the federal estate tax marital deduction allowed by subtitle

B, Chapter 11 of the “Internal Revenue Code of 1986,” 26 U.S.C. 2056 , as amended, the estate tax marital deduction allowed by division (A) of section 5731.15 of the Revised Code , or the qualified terminable interest property deduction allowed by division (B) of section 5731.15 of the Revised Code . (B)(1) Division (A) of this section does not apply if an instrument that creates an inter

vivos or testamentary trust expressly states the intention of the testator or other

settlor that obtaining a marital deduction or a qualified terminable interest property

deduction as described in division (A)(2) of this section is less important than requiring

or permitting the accumulation of income of property in accordance with a provision

in the instrument that requires or permits the accumulation for more than one year

of any income of property. (2) Division (A) of this section does not apply to any beneficiary of an inter vivos

or testamentary trust other than the surviving spouse of the testator or other settlor

or to any inter vivos or testamentary trust of which the surviving spouse of the testator

or other settlor is a beneficiary if an interest in property does not qualify for

a marital deduction or a qualified terminable interest property deduction as described

in division (A)(2) of this section. (C) Divisions (A) and (B) of this section are intended to codify existing fiduciary and

trust law principles relating to the interpretation of a testator's or other settlor's

intent with respect to the income provisions of a trust.  Divisions (A) and (B) of this section apply to trust instruments executed prior

to and existing on October 1, 1996, or executed thereafter.  The trustee of a trust described in division (A) or (B) of this section, in a written

trust amendment, may elect to not apply divisions (A) and (B) of this section to the

trust.  Any election of that nature, when made, is irrevocable.