Oklahoma § 60-1319 Discretionary interests.

Oklahoma Statutes

§ 60-1319 — Discretionary interests.

Oklahoma § 60-1319

Title 60Property

This text of Oklahoma § 60-1319 (Discretionary interests.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 60, § 60-1319 (2026).

Text

A.The following provisions apply only to discretionary interests: 1. A discretionary interest is neither a property interest nor an enforceable right. It is a mere expectancy; 2. No creditor may force a distribution with regard to a discretionary interest. No creditor may require the trustee to exercise the trustee's discretion to make a distribution with regard to a discretionary interest; and 3. A court may review a trustee's distribution discretion only if the trustee: a. acts dishonestly, b. acts with an improper motive, or c. fails, if under a duty to do so, to act.

B.A reasonableness standard may not be applied to the exercise of discretion by the trustee with regard to a discretionary interest. Other than for the circumstances listed in this section, a court has no jurisdiction to

Free access — add to your briefcase to read the full text and ask questions with AI

A. The following provisions apply only to discretionary interests: 1. A discretionary interest is neither a property interest nor an enforceable right. It is a mere expectancy; 2. No creditor may force a distribution with regard to a discretionary interest. No creditor may require the trustee to exercise the trustee's discretion to make a distribution with regard to a discretionary interest; and 3. A court may review a trustee's distribution discretion only if the trustee: a. acts dishonestly, b. acts with an improper motive, or c. fails, if under a duty to do so, to act. B. A reasonableness standard may not be applied to the exercise of discretion by the trustee with regard to a discretionary interest. Other than for the circumstances listed in this section, a court has no jurisdiction to review the trustee's discretion or to force a distribution. C. Absent express language to the contrary, in the event that the distribution language in a discretionary interest permits unequal distributions between beneficiaries or distributions to the exclusion of other beneficiaries, the trustee may distribute all of the accumulated, accrued, or undistributed income and principal to one beneficiary in the trustee's discretion. D. Regardless of whether a beneficiary has any outstanding creditors, a trustee of a discretionary interest may directly pay any expense on behalf of such beneficiary and may exhaust the income and principal of the trust for the benefit of such beneficiary. No trustee is liable to any creditor for paying the expenses of a beneficiary of a discretionary interest.