Oklahoma § 84-301 - Devises or bequests by will to trustee of trust

§ 84-301. Devises or bequests by will to trustee of trust

established by written instrument independently of will Permissible terms and conditions.

A. Unless otherwise provided by subsection B of this section, a

devise or bequest made by a will executed on or after November 1,

1961, the validity of which is determinable by the law of this

state, may be made by a will to the trustee or trustees of a trust

established or to be established by the testator or by the testator

and some other person or persons or by some other person or persons

(including a funded or unfunded life insurance trust, although the

trustor has reserved any or all rights of ownership of the insurance

contracts) if the trust is identified in the testator's will and its

terms are set forth in a written instrument, other than a will,

executed before or concurrently with the execution of the testator's

will or in the valid last will of a person who has predeceased the

testator, regardless of the existence, size, or character of the

corpus of the trust. The devise or bequest shall not be invalid

because the trust is amendable or revocable, or both, or because the

trust was amended after the execution of the will or after the death

of the testator. Unless the testator's will provides otherwise, the

property so devised or bequeathed (a) shall not be deemed to be held

under a testamentary trust of the testator but shall become a part

of the trust to which it is given and (b) shall be administered and

disposed of in accordance with the provisions of the instrument or

will setting forth the terms of the trust, including any amendments

thereto made before the death of the testator, regardless of whether

made before or after the execution of the testator's will, and, if

the testator's will so provides, including any amendments to the

trust made after the death of the testator. A revocation or

termination of the trust before the death of the testator shall

cause the devise or bequest to lapse.

Oklahoma Statutes - Title 84. Wills and Succession

B. For a will of a testator who dies on or after November 1,

2022:

1. A will may validly devise property to the trustee of a trust

established or to be established:

a.

during the testator's lifetime by the testator, by the

testator and some other person, or by some other

person including a funded or unfunded life insurance

trust, although the trustor has reserved any or all

rights of ownership of the insurance contracts, or

b.

at the testator's death by the testator's devise to

the trustee, if the trust is identified in the

testator's will and its terms are set forth in a

written instrument, other than a will, executed

before, concurrently with, or after the execution of

the testator's will or in another individual's will if

that other individual has predeceased the testator,

regardless of the existence, size, or character of the

corpus of the trust.

The devise shall not be invalid because the trust is amendable

or revocable, or because the trust was amended after the execution

of the will or the testator's death.

2. Unless the testator's will provides otherwise, property

devised to a trust described in this subsection is not held under a

testamentary trust of the testator but shall become a part of the

trust to which it is devised, and shall be administered and disposed

of in accordance with the provisions of the governing instrument

setting forth the terms of the trust including any amendments

thereto made before or after the testator's death.

3. Unless the testator's will provides otherwise, a revocation

or termination of the trust before the testator's death shall cause

the devise to lapse.

Laws 1961, p. 637, § 1. Amended by Laws 2022, c. 186, § 1, eff.

Nov. 1, 2022.