{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.103","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.103","heading":"Fiduciary duties - General principles","body":"FIDUCIARY DUTIES; GENERAL PRINCIPLES\n\nA. In allocating receipts and disbursements to or between\n\nprincipal and income, and with respect to any matter within the\n\nscope of Articles 2 and 3 of this act, a fiduciary:\n\n1. Shall administer a trust or estate in accordance with the\n\nterms of the trust or the will, even if there is a different\n\nprovision in this act;\n\n2. May administer a trust or estate by the exercise of a\n\ndiscretionary power of administration given to the fiduciary by the\n\nterms of the trust or the will, even if the exercise of the power\n\nproduces a result different from a result required or permitted by\n\nthis act;\n\n3. Shall administer a trust or estate in accordance with this\n\nact if the terms of the trust or the will do not contain a different\n\nprovision or do not give the fiduciary a discretionary power of\n\nadministration; and\n\n4. Shall add a receipt or charge a disbursement to principal to\n\nthe extent that the terms of the trust and this act do not provide a\n\nrule for allocating the receipt or disbursement to or between\n\nprincipal and income.\n\nB. In exercising the power to adjust under subsection A of\n\nSection 4 of this act or a discretionary power of administration\n\nregarding a matter within the scope of this act, whether granted by\n\nthe terms of a trust, a will, or this act, a fiduciary shall\n\nadminister a trust or estate impartially, based on what is fair and\n\nreasonable to all of the beneficiaries, except to the extent that\n\nthe terms of the trust or the will clearly manifest an intention\n\nthat the fiduciary shall or may favor one or more of the\n\nbeneficiaries. A determination in accordance with this act is\n\npresumed to be fair and reasonable to all of the beneficiaries.","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":"1a1edc8d6fb1bc20f6656b0ebd47e49fadeab3efce17b9958697d21bf8c7de0c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.102","next":"us-ok/okla.-stat.-tit.-60-60-175.104"},"notice":"GroundRules: Original legal text. Not legal advice."}