Modify trust and probate laws

HB 696 modifies Ohio's trust and probate laws to clarify when financial transfers or debts are considered fraudulent and to strengthen the duties of agents managing powers of attorney. The bill updates rules for identifying fraudulent transfers by creditors, specifying that such actions can be challenged within four years if the debtor intended to hide assets or incurred debts they could not repay. It also establishes a mandatory list of duties for agents, such as acting in good faith, keeping accurate records, and attempting to preserve the principal's estate plan while minimizing taxes. Additionally, the legislation sets specific time limits for filing lawsuits related to these fraudulent transfers and defines the conditions under which an agent may be held liable for their actions.