{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.82","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.82","heading":"Definitions","body":"As used in the Oklahoma Discretionary and Special Needs Trust\n\nAct:\n\n1. “Beneficial interest” means a distribution interest or a\n\nremainder interest, and excludes a power of appointment or a power\n\nreserved by the settlor;\n\n2. \"Beneficiary\" means a person who has a present or future\n\nbeneficial interest in a trust, vested or contingent. However, the\n\nholder of a power of appointment shall not be considered a\n\nbeneficiary;\n\n3. “Child” means any person for whom an order or judgment for\n\nchild support has been entered in this state or another state;\n\n4. “Current distribution interest” means a distribution\n\ninterest where on the date of qualification the beneficiary is an\n\neligible distributee or permissible distributee of trust income or\n\nprincipal;\n\n5. “Discretionary interest” means any interest for which a\n\ntrustee has discretion to make or withhold a distribution. A\n\ndiscretionary interest includes permissive language such as “may\n\nmake distributions” or it may include mandatory language that is\n\ninconsistent with the intent of the settlor to create a\n\ndiscretionary trust, such as “The trustee shall make distributions\n\nin the sole and absolute discretion of the trustee”;\n\n6. “Distribution interest” means a beneficiary’s equitable\n\ninterest to enforce the distribution terms of the trust subject to\n\nthe judicial review standard. A distribution interest is classified\n\nas a mandatory interest, a support interest, a discretionary\n\ninterest, or a combination of any such interests. A distribution\n\ninterest includes both current distribution interests and future\n\ndistribution interests;\n\n7. “Exception creditor” means a child of a beneficiary who has\n\na judgment or court order against the beneficiary for support;\n\n8. “Future distribution interest” means all distribution\n\ninterests other than a current distribution interest;\n\n9. “Mandatory interest” means a distribution interest for which\n\nthe trustee has no discretion in determining whether the\n\ndistribution shall be made, or the amount or timing of the\n\ndistribution;\n\n10. “Power of appointment” means an inter vivos or testamentary\n\npower to direct the disposition of trust property, other than a\n\ndistribution decision by a trustee to a beneficiary. Powers of\n\nappointment are held by donees, not the settlor. A power of\n\nappointment includes any right or power granted by statute to any\n\nperson other than the settlor;\n\n11. “Remainder interest” means an interest for which a trust\n\nbeneficiary will receive the property outright in the future;\n\n12. “Reserved power” means a power held by the settlor;\n\n13. “Special Needs Trust” means a trust created for the partial\n\nor exclusive benefit of a disabled or incapacitated person, in order\n\nto allow the disabled or incapacitated beneficiary to avoid loss of\n\neligibility for government benefit programs, including, but not\n\nlimited to, Medicaid, Supplemental Security Income, Social Security\n\nDisability Income or other state or federal benefit programs; and\n\n14. “Support interest” means any interest which is not a\n\nmandatory interest or a discretionary interest. A support interest\n\nshall include mandatory language such as “shall make distributions”\n\nand be coupled with a standard capable of judicial interpretation,\n\nsuch as an “ascertainable standard” as defined in Internal Revenue\n\nCode (IRC) Section 2041.","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":"3d6b5f9939b251e187390980529ee934dad98282b238d2fef35d21eed5b2b026","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.81","next":"us-ok/okla.-stat.-tit.-60-60-175.83"},"notice":"GroundRules: Original legal text. Not legal advice."}