2015 Oklahoma Statutes
Title 60. Property
§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 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.