Oklahoma § 60-175.88 - Applicable trust provisions for beneficiaries holding

§ 60-175.88. Applicable trust provisions for beneficiaries holding

support interests.

The following provisions apply only to trusts with one or more

beneficiaries holding support interests:

1. The fact that a court would have exercised the distribution

power under a support interest differently than the trustee is not

Oklahoma Statutes - Title 60. Property

sufficient reason for interfering with the exercise of the

distribution power by the trustee. However, a court may review the

distribution discretion of a trustee if the trustee acts beyond the

bounds of reasonableness;

2. A support interest relies on spendthrift provisions for

protection of a beneficial interest as well as the additional

protection provided by protective or restrictive distribution

language under Section 10 of this act;

3. The only exception creditor under the Oklahoma Discretionary

and Special Needs Trust Act is a child of a beneficiary who has a

judgment or court order against the beneficiary for support;

4. As provided by the Oklahoma Discretionary and Special Needs

Trust Act, the sole and exclusive remedy of an exception creditor is

the attachment of the beneficiary’s support interest at the trust

level. The court may limit the amount subject to attachment as

appropriate under the circumstances to provide for the needs of the

beneficiary and the family of the beneficiary; and

5. A beneficiary holding a support interest has an enforceable

right to a distribution pursuant to a court review. This does not

raise the interest of the beneficiary to the level of a property

interest.

Added by Laws 2010, c. 280, § 8, eff. Nov. 1, 2010.