{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.705","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.705","heading":"Trust for beneficiary with disability","body":"TRUST FOR BENEFICIARY WITH DISABILITY\n\nA. As used in this act:\n\n1. \"Beneficiary with a disability\" means a beneficiary of a\n\nfirst trust who the special-needs fiduciary believes may qualify for\n\ngovernmental benefits based on disability, whether or not the\n\nbeneficiary currently receives those benefits or is an individual\n\nwho has been adjudicated incompetent;\n\n2. \"Governmental benefits\" means financial aid or services from\n\na state, federal or other public agency;\n\n3. \"Special-needs fiduciary\" means, with respect to a trust\n\nthat has a beneficiary with a disability:\n\na. a trustee or other fiduciary, other than a settlor,\n\nthat has discretion to distribute part or all of the\n\nprincipal of a first trust to one or more current\n\nbeneficiaries,\n\nb. if no trustee or fiduciary has discretion under\n\nsubparagraph a of this section, a trustee or other\n\nfiduciary, other than a settlor, that has discretion\n\nto distribute part or all of the income of the first\n\ntrust to one or more current beneficiaries, or\n\nc. if no trustee or fiduciary has discretion under\n\nsubparagraphs a and b of this section, a trustee or\n\nother fiduciary, other than a settlor, that is\n\nrequired to distribute part or all of the income or\n\nprincipal of the first trust to one or more current\n\nbeneficiaries; and\n\n4. \"Special-needs trust\" means a trust the trustee believes\n\nwould not be considered a resource for purposes of determining\n\nwhether a beneficiary with a disability is eligible for governmental\n\nbenefits.\n\nB. A special-needs fiduciary may exercise the decanting power\n\nunder Section 3 of this act over the principal of a first trust as\n\nif the fiduciary had authority to distribute principal to a\n\nbeneficiary with a disability subject to expanded distributive\n\ndiscretion if:\n\n1. A second trust is a special-needs trust that benefits the\n\nbeneficiary with a disability; and\n\n2. The special-needs fiduciary determines that exercise of the\n\ndecanting power will further the purposes of the first trust.\n\nC. In an exercise of the decanting power under this section,\n\nthe following rules apply:\n\n1. Notwithstanding Section 3 of this act, the interest in the\n\nsecond trust of a beneficiary with a disability may:\n\na. be a pooled trust as defined by Medicaid law for the\n\nbenefit of the beneficiary with a disability under 42\n\nU.S.C., Section 1396p(d)(4)(C), as amended, or\n\nb. contain payback provisions complying with\n\nreimbursement requirements of Medicaid law under 42\n\nU.S.C., Section 1396p(d)(4)(A), as amended; and\n\n2. Except as affected by any change to the interests of the\n\nbeneficiary with a disability, the second trust, or if there are two\n\nor more second trusts, the second trusts in the aggregate, shall\n\ncomply with Section 3 or 4 of this act with respect to the interest\n\nor interests of each other current beneficiary, presumptive\n\nremainder beneficiary or successor beneficiary.","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":"b9eda1f6b05f2dea690264dedaf972bd171e1c9863c4522e6e0e986d642d4e68","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.704","next":"us-ok/okla.-stat.-tit.-60-60-175.706"},"notice":"GroundRules: Original legal text. Not legal advice."}