Okla. Stat. tit. 60, § 60-175.92
This is the official text of Okla. Stat. tit. 60, § 60-175.92, 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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Existence of a spendthrift provision - Amount the
Official statutory text
creditor or assignee may reach.
Subject to the provisions of the Family Wealth Preservation
Trust Act:
1. Whether or not the terms of a trust contain a spendthrift
provision, the following rules apply:
a. during the lifetime of the settlor, the property of a
revocable trust is subject to the claims of the
creditors of the settlor, and
b. a spendthrift provision is ineffective with respect to
the settlor of a revocable trust while the trust is
revocable; and
2. A creditor or assignee of the settlor may reach the maximum
amount that can be distributed to or for the benefit of the settlor.
If a trust has more than one settlor, the amount the creditor or
assignee of a particular settlor may reach may not exceed the
interest of the settlor in the portion of the trust attributable to
the contribution of that settlor.
Subject to the provisions of the Family Wealth Preservation
Trust Act:
1. Whether or not the terms of a trust contain a spendthrift
provision, the following rules apply:
a. during the lifetime of the settlor, the property of a
revocable trust is subject to the claims of the
creditors of the settlor, and
b. a spendthrift provision is ineffective with respect to
the settlor of a revocable trust while the trust is
revocable; and
2. A creditor or assignee of the settlor may reach the maximum
amount that can be distributed to or for the benefit of the settlor.
If a trust has more than one settlor, the amount the creditor or
assignee of a particular settlor may reach may not exceed the
interest of the settlor in the portion of the trust attributable to
the contribution of that settlor.
Status: in_force · Read it on the official government site
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