{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-3010","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-3010","heading":"Definition - Form - Fees - Rules","body":"A. As used in this section, \"statutory support trust\" means a\n\nmodel trust to be used by a bank or trust company for the purpose of\n\nreceiving money donated by any person as a public service to assist\n\nthe beneficiary of the trust or account in the payment of medical,\n\nfinancial, educational, humanitarian or other similar needs.\n\nB. A statutory support trust may be substantially in the\n\nfollowing form:\n\nDECLARATION OF TRUST\n\nCREATING THE\n\n(NAME OF BENEFICIARY) SUPPORT TRUST\n\nWhereas, (name of beneficiary) of ___________________, Oklahoma,\n\nhereinafter referred to as \"Primary Beneficiary\", is in need of\n\nfinancial assistance, as a result of the following circumstances,\n\nto-wit: ________\n\nhereinafter referred to as the \"Condition of Need\"; and\n\nWhereas, (name of Grantor), of _________, Oklahoma, hereinafter\n\nreferred to as \"Grantor\", is desirous of providing assistance to\n\nPrimary Beneficiary, primarily to help with expenses incurred in\n\nconnection with the Condition of Need, but also to provide generally\n\nfor the welfare and security of Primary Beneficiary; and\n\nWhereas, Grantor is the owner of certain property which Grantor\n\ndesires at this time to set apart for the use and benefit of Primary\n\nBeneficiary and for the future use and benefit of the other\n\nbeneficiaries provided for herein;\n\nNow, therefore, Grantor does irrevocably convey, assign,\n\ntransfer and deliver to the Trustee hereinafter named the property\n\ndescribed in Schedule A attached hereto to have and to hold such\n\nproperty and any other property which the Trustee may hereafter at\n\nany time hold or acquire hereunder (all of which property is\n\nhereinafter referred to collectively as the \"Trust estate\") in trust\n\nnevertheless, for the following uses and purposes and subject to the\n\nterms and conditions hereinafter set forth.\n\nSECTION I\n\nAppointment of Trustee\n\n1. Grantor hereby appoints (name of trustee), of ____________,\n\nOklahoma, as Trustee of this Trust.\n\n2. The Trustee may, by written instrument, signed and\n\nacknowledged, resign from office without leave of court at any time\n\nand for any reason, and appoint a successor Trustee to act in the\n\nplace and stead of the Trustee. Should the Trustee fail to appoint\n\na successor Trustee, Grantor may, by appropriate instrument in\n\nwriting, appoint a successor Trustee. In no event may Grantor be\n\nappointed to act as Trustee.\n\n3. Any successor Trustee shall, upon the acceptance of the\n\noffice by written instrument signed and acknowledged by the Trustee,\n\nhave the same powers, rights and duties, and the same title to the\n\nTrust estate as did the Trustee's predecessor as Trustee.\n\n4. No Trustee shall be required to furnish any bond or surety.\n\nNo Trustee shall be responsible or liable for the acts or omissions\n\nof any predecessor Trustee or of a custodian, agent, depositary or\n\ncounsel selected with reasonable care.\n\n5. As used herein, the term \"Trustee\" shall include not only\n\nthe original Trustee but also any successor Trustee.\n\n6. In the case of any Trustee which is a bank, trust company or\n\nassociation authorized to exercise general trust powers, references\n\nto such entity shall include its successor or successors or any\n\nbank, trust company or association with which it or its successors\n\nmay become merged or consolidated.\n\n7. The Trustee shall have the power and authority with respect\n\nto the Trust estate, shall be charged with the duties and\n\nobligations, and shall be subject to the limitations and\n\nrestrictions hereinafter set forth.\n\nSECTION II\n\nGeneral Provisions Relating to Trust\n\n1. With respect to the management of the Trust, the character\n\nof and the manner of making investments and reinvestments of Trust\n\nfunds, the sale, conveyance or transfer of Trust property and the\n\npowers and duties of the Trustee, the provisions of the Oklahoma\nions, and shall be subject to the limitations and\n\nrestrictions hereinafter set forth.\n\nSECTION II\n\nGeneral Provisions Relating to Trust\n\n1. With respect to the management of the Trust, the character\n\nof and the manner of making investments and reinvestments of Trust\n\nfunds, the sale, conveyance or transfer of Trust property and the\n\npowers and duties of the Trustee, the provisions of the Oklahoma\n\nTrust Act now in force and the provisions of investments by\n\nTrustees, Sections 161 through 163 of Title 60 of the Oklahoma\n\nStatutes, shall govern except as they may be modified or limited by\n\nthe provisions of this Trust. Repeal or amendment of the statutes\n\nshall not change the powers and duties of the Trustee hereunder, but\n\nthe provisions of such statutes existing on the date this Trust is\n\nexecuted, except as herein modified or limited, shall continue in\n\neffect with respect to all property which may come into the hands of\n\nthe Trustee, whether such property has a situs within or without the\n\nState of Oklahoma.\n\n2. Except as provided in paragraph 2 of Section IV hereof, each\n\nbeneficiary is hereby prohibited from anticipating, encumbering,\n\nassigning or in any other manner disposing of the interest of the\n\nbeneficiary in either principal or income and is without power so to\n\ndo; nor shall such interest be subject to the liabilities or\n\nobligations of the beneficiary, nor to attachment, execution or\n\nother legal process, bankruptcy proceedings or claims of creditors\n\nor others.\n\n3. The Trustee shall keep books of account showing all\n\ntransactions relating to the Trust estate, and shall also in each\n\nyear furnish to each beneficiary currently receiving distributions\n\ntherefrom, or to any attorney-in-fact acting on the behalf of the\n\nbeneficiary, or to the guardian of the beneficiary if a guardian has\n\nbeen appointed, a statement showing how the Trust estate is invested\n\nand all transactions relating thereto subsequent to the last\n\npreceding account rendered.\n\n4. Whenever distribution of income or principal is to be made\n\nunder the terms of this Trust to a minor or other person under a\n\nlegal disability of any nature, the Trustee, in the Trustee's sole\n\ndiscretion, may make such distributions to others for the benefit of\n\nsuch minor or such legally disabled person without the intervention\n\nof a guardian.\n\n5. The powers, duties and responsibilities herein set out shall\n\nnot be deemed to exclude other implied powers, duties or\n\nresponsibilities not inconsistent therewith.\n\n6. The compensation of the Trustee for services rendered to the\n\nTrust shall be reasonable and commensurate with the compensation for\n\nlike services ordinarily and customarily paid in the community where\n\nthe service is rendered.\n\n7. The Trustee shall have all of the foregoing powers and\n\nduties during the term of this Trust and thereafter until final\n\ndistribution of the Trust.\n\nSECTION III\n\nAdditions to Trust Estate\n\nGrantor or other persons from time to time by inter vivos or\n\ntestamentary transfers may add property to the Trust estate. The\n\nreceipt of the Trustee for such property shall constitute acceptance\n\nthereof by the Trustee.\n\nSECTION IV\n\nProvisions Relating to\n\nDistributions of Income and Principal\n\n1. During the term of this Trust the Trustee shall pay to or\n\nfor the benefit of Primary Beneficiary so much or all of the income\n\nand principal of the Trust as the Trustee determines, in the\n\nTrustee's sole discretion, to be necessary or advisable for the\n\nhealth, maintenance, support, education and welfare of Primary\n\nBeneficiary, after giving primary consideration to Primary\n\nBeneficiary's Condition of Need and after consulting with Primary\n\nBeneficiary and any one or more of the following members of Primary\n\nBeneficiary's family or community, to-wit:\n\n___________________; ______________________; and\n\n______________________. The Trustee shall have no liability or\nnce, support, education and welfare of Primary\n\nBeneficiary, after giving primary consideration to Primary\n\nBeneficiary's Condition of Need and after consulting with Primary\n\nBeneficiary and any one or more of the following members of Primary\n\nBeneficiary's family or community, to-wit:\n\n___________________; ______________________; and\n\n______________________. The Trustee shall have no liability or\n\nresponsibility, either to Grantor or any other donor to this Trust,\n\nor to Primary Beneficiary, for relying on information provided by\n\nPrimary Beneficiary or any such consultants, nor shall the Trustee\n\nbe under any duty to see to the proper application of any funds\n\ndistributed to, or pursuant to any instructions of, Primary\n\nBeneficiary or any of such consultants.\n\n2. Upon the death of Primary Beneficiary, or the determination\n\nby the Trustee in the Trustee's sole discretion that Primary\n\nBeneficiary's Condition of Need no longer exists, whichever first\n\noccurs, this Trust shall terminate and all remaining assets of the\n\nTrust shall be distributed as follows:\n\n[ ] To Primary Beneficiary or, if the Primary\n\nBeneficiary is then deceased, to the estate of the Primary\n\nBeneficiary;\n\n[or]\n\n[ ] To such charitable organization or organizations,\n\nin such amounts and for such charitable purposes, as shall\n\nbe selected and determined by Primary Beneficiary by\n\nappropriate instrument in writing, or in the absence of\n\nsuch selection and determination, by the Trustee;\n\n3. Whenever any distribution under subsection 2 of this Section\n\nIV is required to be made to a beneficiary under the age of twenty-\n\none years, the interest so required to be distributed shall be\n\nindefeasibly vested in the beneficiary, but the Trustee may, in the\n\nTrustee's sole discretion, retain the assets so distributable until\n\nthe beneficiary attains age twenty-one or dies, whichever first\n\noccurs, and the Trustee may pay the income and principal to the\n\nbeneficiary in such amounts and from time to time as the Trustee may\n\ndetermine. Upon the beneficiary's attaining the age of twenty-one,\n\nthe Trustee shall deliver the then remaining principal and\n\nundistributed income to the beneficiary. If the beneficiary dies\n\nprior to attaining such age, then, on the date of the death of the\n\nbeneficiary, the Trustee shall deliver the then remaining principal\n\nand undistributed income to the estate of the beneficiary. In the\n\nalternative, the Trustee may, in the Trustee's sole discretion,\n\ntransfer such assets to a Custodian for the beneficiary under the\n\nOklahoma Uniform Transfers to Minors Act and specify that the\n\nCustodian shall transfer the property to the beneficiary when the\n\nbeneficiary reaches the age of twenty-one years.\n\n4. As used herein the term \"charitable purposes\" shall be\n\nlimited to and shall include religious, charitable, scientific,\n\nliterary, educational or exclusively public purposes within the\n\nmeaning of those terms as used in Section 501(c)(3) and Section\n\n170(c)(1) of the Internal Revenue Code, but only such purposes as\n\nalso constitute public charitable purposes under the law of the\n\nState of Oklahoma.\n\nSECTION V\n\nMiscellaneous Provisions\n\n1. Grantor declares that Grantor has been fully advised as to\n\nthe legal effects of the execution of this instrument and informed\n\nas to the character and amount of the property hereby conveyed and\n\nfurther that Grantor has given consideration to the question of\n\nwhether the Trust herein created shall be revocable or irrevocable,\n\nand Grantor now declares that it shall be wholly and completely\n\nirrevocable and that Grantor shall not have any right, capacity or\n\npower at any time to revoke, terminate, alter or amend any of the\n\nprovisions hereof.\n\n2. This Declaration of Trust and all of its provisions shall be\n\nconstrued and administered in accordance with the laws of the State\n\nof Oklahoma.\nt shall be wholly and completely\n\nirrevocable and that Grantor shall not have any right, capacity or\n\npower at any time to revoke, terminate, alter or amend any of the\n\nprovisions hereof.\n\n2. This Declaration of Trust and all of its provisions shall be\n\nconstrued and administered in accordance with the laws of the State\n\nof Oklahoma.\n\n3. This Declaration of Trust shall be binding upon the\n\nexecutors, administrators and assigns of Grantor, and the\n\nbeneficiaries named herein and upon the successors to the Trustee.\n\n4. This Declaration of Trust shall be known as the \"[name of\n\nbeneficiary] SUPPORT TRUST.\"\n\nIN WITNESS WHEREOF, Grantor has hereunto subscribed Grantor's\n\nname this ____ day of _____, 199_.\n\n_______________________________________\n\n\"Grantor\"\n\nSTATE OF OKLAHOMA )\n\n) SS.\n\nCOUNTY OF ________ )\n\nBEFORE ME, the undersigned, a Notary Public in and for said\n\nCounty and State, on this ____ day of ________, 199_, personally\n\nappeared [name of Grantor], to me known to be the identical person\n\nwho executed the within and foregoing instrument, and acknowledged\n\nto me that he or she executed the same as his or her free and\n\nvoluntary act and deed for the uses and purposes therein set forth.\n\nWITNESS my hand and official seal the day and year last above\n\nwritten.\n\n__________________________________________\n\nNotary Public\n\nMy commission expires:\n\n______________________\n\n[SEAL]\n\nACCEPTANCE OF TRUSTEE\n\n[name of trustee], the Trustee named in the above and foregoing\n\nDeclaration of Trust, hereby accepts the same, acknowledges receipt\n\nof the property described in Schedule A to said Declaration of\n\nTrust, and agrees to act under the terms and provisions thereof.\n\nDATED this ____ day of ________, 199_.\n\n__________________________________________\n\nSCHEDULE A\n\nTO\n\nDECLARATION OF TRUST\n\nCREATING THE [NAME OF BENEFICIARY] SUPPORT TRUST\n\n$_______Cash\n\nC. A bank or trust company may charge a reasonable and\n\ncustomary fee for establishing and managing a statutory support\n\ntrust and this fee shall be disclosed in writing prior to the trust\n\nor account being established.\n\nD. The State Banking Department shall promulgate any necessary\n\nrules to implement the provisions of this section.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7a2c5a52c5cb16e05b615db68433ec61f92009cbd0379a269ef46cfddba96a18","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-301","next":"us-ok/okla.-stat.-tit.-6-6-303"},"notice":"GroundRules: Original legal text. Not legal advice."}