What are the key requirements for creating a valid trust in Ohio?

To create a valid trust in Ohio, it is essential to establish certain foundational elements, which are well captured by the correct response. A clear intent to create a trust is crucial because without this intent, the legal framework for establishing the trust simply does not exist. The settlor (the person creating the trust) must express an unequivocal desire to place the property into a trust arrangement for the benefit of one or more beneficiaries.

In addition to intent, having definite beneficiaries is vital. A trust must benefit identifiable individuals or groups. This requirement ensures that the trustee has a clear understanding of who will benefit from the trust's assets and can act accordingly in administering the trust. Without definite beneficiaries, the trust may be deemed void due to vagueness.

Furthermore, establishing a lawful purpose for the trust is necessary. A trust cannot be created for an illegal reason or to engage in activities that are against public policy. The purpose of the trust must align with legal and moral standards, distinguishing it from any potential schemes that might exploit loopholes or violate laws.

The combination of these three elements—clear intent, definite beneficiaries, and a lawful purpose—forms the comprehensive foundation required for a valid trust in Ohio. Hence, the choice that encompasses all these requirements is the