Mr. Sullivan has been and is involved in a variety of legislative projects, mainly in Ohio but sometimes outside Ohio as well. Some of these projects are as follows:
Ohio Asset Management Modernization Act of 2012
Mr. Sullivan was one of the principal co-authors of the Ohio Asset Management Modernization Act of 2012 (a/k/a HB 479). This legislation, which took effect in 2013, included the Ohio Legacy Trust Act, Ohio Rev. Code § 5816.01, et seq., which is Ohio's asset protection trust ("APT") statute. Ohio's APT legislation has been favorably received by commentators, and is designed to cater to a global clientele. HB 479 also significantly increased Ohio's homestead exemption, allows for more flexible trust planning, and made other significant changes to Ohio trust and debtor-creditor law.
2021 Ohio Legacy Trust Technical Corrections Act
Mr. Sullivan was one of the principal co-authors of a 2021 technical corrections act that updated Ohio's Legacy Trust Act. This 2021 legislation, which was part of HB 7, allows Ohio private trust companies to serve as a "qualified trustee" of Ohio APTs. It also made other technical corrections and upgrades to enhance the protections afforded by Ohio's APT law.
Ohio Trust Decanting
Mr. Sullivan was part of the Ohio State Bar Association committee that drafted Ohio's trust decanting statute.
Ohio LLC Statutory Updates
Mr. Sullivan has been part of one ad hoc group that commented on, and part of two Ohio State Bar Association committees that drafted or reviewed, proposed (and eventually enacted) legislative upgrades to Ohio's LLC Act. These upgrades have made Ohio's LLC Act one of the most user-friendly LLC statutes in the U.S.