Oklahoma § 60-175.84 - Applicable provisions for trusts created pursuant to

§ 60-175.84. Applicable provisions for trusts created pursuant to

Oklahoma Discretionary and Special Needs Trust Act.

The following provisions apply to all trusts created pursuant to

the Oklahoma Discretionary and Special Needs Trust Act:

1. A creditor shall not attach, exercise, or otherwise reach an

interest of a beneficiary or any other person who holds an

unconditional or conditional removal or replacement power over a

trustee. Further, this power is personal to the beneficiary and may

not be exercised by the creditors of the beneficiary, nor may a

court direct any person to exercise this power;

2. A creditor shall not reach an interest of a beneficiary nor

otherwise compel a distribution because the beneficiary is then

serving as a trustee or a cotrustee;

3. If a party challenges a settlor or the influence of a

beneficiary over a trust, the following factors, alone or in

combination, shall not be considered dominion and control over a

trust:

a.

a beneficiary serving as a trustee or a cotrustee as

described in paragraph 2 of this section,

b.

the settlor or a beneficiary holds an unrestricted

power to remove or replace a trustee,

c.

the settlor or a beneficiary, as provided in the

applicable trust instrument, is:

(1) a trust administrator,

(2) a trust protector,

(3) a special trustee, or

(4) a general partner of a partnership, a manager of

a limited liability company, an officer of a

corporation, or any other managerial function of

any other type of entity, and part or all of the

trust property consists of an interest in said

entity,

d.

a person related by blood or adoption to a settlor or

a beneficiary is appointed as trustee, or

Oklahoma Statutes - Title 60. Property

e.

an accountant of a settlor or a beneficiary, attorney,

financial advisor, business associate, or a friend is

appointed as trustee; and

4. The settlor or any beneficiary shall not be deemed to be the

alter ego of a trustee. The following factors, alone or in

combination, shall not be sufficient evidence for a court to

conclude that the settlor controls a trustee or is the alter ego of

a trustee:

a.

any combination of the factors listed in paragraph 3

of this section,

b.

occasional occurrences in which the settlor or a

beneficiary may have signed checks, made disbursements

or executed other documents related to the trust as a

trustee, when in fact the settlor or a beneficiary was

not a trustee,

c.

making requests for distributions on behalf of

beneficiaries, or

d.

making requests to the trustee to hold, purchase, or

sell any trust property.

Added by Laws 2010, c. 280, § 4, eff. Nov. 1, 2010.