Okla. Stat. tit. 60, § 60-175.84: Applicable provisions for trusts created pursuant to
Where this section sits in the code
- OK Code
- Title 60
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
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.
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