2014 Oklahoma Statutes
Title 31. Homestead and Exemptions
§31-13. Preservation trust - Revocable or irrevocable - Contributions.

31 OK Stat § 31-13 (2014) What's This?

A preservation trust may be established as a revocable and amendable trust or as an irrevocable trust. If the grantor of a preservation trust revokes or partially revokes the preservation trust, the exemption provisions of Section 12 of this title shall not be applicable to any property received by the grantor as a result of such revocation or partial revocation. The fair market value of any property received by the grantor as a result of a partial revocation shall increase the amount of property which the grantor may contribute to the preservation trust pursuant to Section 12 of this title.

Added by Laws 2004, c. 509, § 4, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 3, emerg. eff. June 8, 2005.

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