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STATE OF OKLAHOMA
2nd Session of the 58th Legislature (2022)
SENATE BILL 1340 By: Hall
AS INTRODUCED
An Act relating to trusts; creating the Uniform
Testamentary Additions to Trusts Act of 1991;
providing short title ; authorizing devise of property
by will to certain trusts; prohibiting invalidation
of devise due to certain trust characteristics;
requiring administration and disposition o f property
by terms of trust to which property was devised;
requiring lapse of certain devise upon revoc ation or
termination of trust; providing for applicability of
act; construing provi sions; repealing 84 O.S. 2021,
Sections 301, 302, 303 , and 304, which relate to the
Uniform Testamentary Additions to Trust s Act;
providing for codification; and providing a n
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 311 of Title 84, unless there is
created a duplication in numbering, reads as follows:
A. This act shall be known and may be cited as the "Uniform
Testamentary Additions to Trust s Act of 1991".
B. A will may validly devise property to the trustee of a trust
established or to be established:
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1. During the testator’s lifetime by the testator, by the
testator and some other person, or by some other p erson including a
funded or unfunded life insurance trust, although the trustor has
reserved any or all rights of ow nership of the insurance contracts;
or
2. At the testator’s death by the testator ’s devise to the
trustee, if the trust is identified in t he testator’s will and its
terms are set forth in a written instrument, other than a will,
executed before, concurren tly with, or after the execution of the
testator’s will or in another individual ’s will if that other
individual has predeceased the testat or, regardless of the
existence, size, or character of the corpus of the trust.
The devise is not invalid because the trust is amendable or
revocable, or because the t rust was amended after the execution of
the will or the testator ’s death.
C. Unless the testator’s will provides otherwise, property
devised to a trust described in subsection B of this section is not
held under a testamentary trust of the testator but shall become a
part of the trust to which it is devised, and shall be administered
and disposed of in accordance with the provisi ons of the governing
instrument setting forth the terms of the trust including any
amendments thereto made befor e or after the testator’s death.
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D. Unless the testator’s will provides otherwise, a revocation
or termination of the trust before the testat or’s death shall cause
the devise to lapse.
E. This act shall apply to a will of a testator who dies on or
after the effective dat e of this act. This act shall be applied and
construed to effectuat e its general purpose to make uniform the law
with respect to the subject of this act amo ng states enacting it.
SECTION 2. REPEALER 84 O.S. 2021, Sections 301, 302,
303, and 304, are hereby repealed.
SECTION 3. This act shall become effective November 1, 2022.
58-2-3399 TEK 1/18/2022 10:00:11 AM