Okla. Stat. tit. 60, § 60-175.84
This is the official text of Okla. Stat. tit. 60, § 60-175.84, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Applicable provisions for trusts created pursuant to
Official statutory text
Oklahoma Discretionary and Special Needs Trust Act.
The following provisions apply to all trusts created pursuant to
the Oklahoma Discretionary and Special Needs Trust Act:
1. A creditor shall not attach, exercise, or otherwise reach an
interest of a beneficiary or any other person who holds an
unconditional or conditional removal or replacement power over a
trustee. Further, this power is personal to the beneficiary and may
not be exercised by the creditors of the beneficiary, nor may a
court direct any person to exercise this power;
2. A creditor shall not reach an interest of a beneficiary nor
otherwise compel a distribution because the beneficiary is then
serving as a trustee or a cotrustee;
3. If a party challenges a settlor or the influence of a
beneficiary over a trust, the following factors, alone or in
combination, shall not be considered dominion and control over a
trust:
a. a beneficiary serving as a trustee or a cotrustee as
described in paragraph 2 of this section,
b. the settlor or a beneficiary holds an unrestricted
power to remove or replace a trustee,
c. the settlor or a beneficiary, as provided in the
applicable trust instrument, is:
(1) a trust administrator,
(2) a trust protector,
(3) a special trustee, or
(4) a general partner of a partnership, a manager of
a limited liability company, an officer of a
corporation, or any other managerial function of
any other type of entity, and part or all of the
trust property consists of an interest in said
entity,
d. a person related by blood or adoption to a settlor or
a beneficiary is appointed as trustee, or
Oklahoma Statutes - Title 60. Property Page 81
e. an accountant of a settlor or a beneficiary, attorney,
financial advisor, business associate, or a friend is
appointed as trustee; and
4. The settlor or any beneficiary shall not be deemed to be the
alter ego of a trustee. The following factors, alone or in
combination, shall not be sufficient evidence for a court to
conclude that the settlor controls a trustee or is the alter ego of
a trustee:
a. any combination of the factors listed in paragraph 3
of this section,
b. occasional occurrences in which the settlor or a
beneficiary may have signed checks, made disbursements
or executed other documents related to the trust as a
trustee, when in fact the settlor or a beneficiary was
not a trustee,
c. making requests for distributions on behalf of
beneficiaries, or
d. making requests to the trustee to hold, purchase, or
sell any trust property.
The following provisions apply to all trusts created pursuant to
the Oklahoma Discretionary and Special Needs Trust Act:
1. A creditor shall not attach, exercise, or otherwise reach an
interest of a beneficiary or any other person who holds an
unconditional or conditional removal or replacement power over a
trustee. Further, this power is personal to the beneficiary and may
not be exercised by the creditors of the beneficiary, nor may a
court direct any person to exercise this power;
2. A creditor shall not reach an interest of a beneficiary nor
otherwise compel a distribution because the beneficiary is then
serving as a trustee or a cotrustee;
3. If a party challenges a settlor or the influence of a
beneficiary over a trust, the following factors, alone or in
combination, shall not be considered dominion and control over a
trust:
a. a beneficiary serving as a trustee or a cotrustee as
described in paragraph 2 of this section,
b. the settlor or a beneficiary holds an unrestricted
power to remove or replace a trustee,
c. the settlor or a beneficiary, as provided in the
applicable trust instrument, is:
(1) a trust administrator,
(2) a trust protector,
(3) a special trustee, or
(4) a general partner of a partnership, a manager of
a limited liability company, an officer of a
corporation, or any other managerial function of
any other type of entity, and part or all of the
trust property consists of an interest in said
entity,
d. a person related by blood or adoption to a settlor or
a beneficiary is appointed as trustee, or
Oklahoma Statutes - Title 60. Property Page 81
e. an accountant of a settlor or a beneficiary, attorney,
financial advisor, business associate, or a friend is
appointed as trustee; and
4. The settlor or any beneficiary shall not be deemed to be the
alter ego of a trustee. The following factors, alone or in
combination, shall not be sufficient evidence for a court to
conclude that the settlor controls a trustee or is the alter ego of
a trustee:
a. any combination of the factors listed in paragraph 3
of this section,
b. occasional occurrences in which the settlor or a
beneficiary may have signed checks, made disbursements
or executed other documents related to the trust as a
trustee, when in fact the settlor or a beneficiary was
not a trustee,
c. making requests for distributions on behalf of
beneficiaries, or
d. making requests to the trustee to hold, purchase, or
sell any trust property.
Status: in_force · Read it on the official government site
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