Okla. Stat. tit. 60, § 60-1604.2: Requirements for creation

A. A trust is created only if:

1. The settlor has capacity to create a trust;

2. The settlor indicates an intention to create the trust;

3. The trust has a definite beneficiary or is:

a. a charitable trust, or

b. a trust for a noncharitable purpose, as provided in

Section 27 of this act;

4. The trustee has duties to perform; and

5. The same person is not the sole trustee and sole

beneficiary.

B. A beneficiary is definite if the beneficiary can be

ascertained now or in the future.

C. A power in a trustee to select a beneficiary from an

indefinite class is valid. If the power is not exercised within a

reasonable time, the power fails and the property subject to the

power passes to the persons who would have taken the property had

the power not been conferred.