{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-1605.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-1605.1","heading":"Creditor claims — Rules","body":"\n\nA. Whether or not the terms of a trust contain a spendthrift\n\nprovision, the following rules apply:\n\n1. Except as provided by the laws of this state, during the\n\nlifetime of the settlor, the property of a revocable trust is\n\nsubject to claims of the settlor's creditors; and\n\n2. Except as provided by the laws of this state, after the\n\ndeath of a settlor, and subject to the settlor's right to direct the\n\nsource from which liabilities will be paid, the property of a trust\n\nthat was revocable at the settlor's death is subject to claims of\n\nthe settlor's creditors, costs of administration of the settlor's\n\nestate, the expenses of the settlor's funeral and disposal of\n\nremains, and statutory allowances to a surviving spouse and children\n\nto the extent the settlor's probate estate is inadequate to satisfy\n\nthose claims, costs, expenses, and allowances.\n\nB. For purposes of this section:\n\n1. During the period the power may be exercised, the holder of\n\na power of withdrawal is treated in the same manner as the settlor\n\nof a revocable trust to the extent of the property subject to the\n\npower; and\n\n2. Upon the lapse, release, or waiver of the power, the holder\n\nis treated as the settlor of the trust only to the extent the value\n\nof the property affected by the lapse, release, or waiver exceeds\n\nthe greater of the amount specified in Section 2041(b)(2) or 2514(e)\n\nof the Internal Revenue Code of 1986, or Section 2503(b) of the\n\nInternal Revenue Code of 1986, in each case as in effect on the\n\neffective date of this act, or as later amended.\n\nARTICLE 6\n\nREVOCABLE TRUSTS","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3df5cda2be9b1751c21bf38baf5c8722c648baac5cd19a2f33839d8e952027bc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-1604.9","next":"us-ok/okla.-stat.-tit.-60-60-1606.1"},"notice":"GroundRules: Original legal text. Not legal advice."}