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HB 1850

Trusts; creating the Uniform Trust Code; definitions; creditor claims; revocable trusts; trustees; duties and powers of trustee; trustee liability; severability; effective date.

2026 Regular Session Introduced by Brent Howard and 1 co-sponsor

Oklahoma adopts uniform trust code establishing standardized rules for trust creation, administration, creditor claims, and trustee duties across the state.

Approved by Governor 05/21/2025
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WeVote Research Nonpartisan
Bill Summary · HB 1850

Legislative bill overview

HB 1850 adopts Oklahoma's version of the Uniform Trust Code, a model law that standardizes trust law across states. The bill establishes comprehensive rules governing trust creation, administration, trustee duties and powers, creditor claims against trusts, and revocable trust provisions, replacing Oklahoma's previous patchwork of trust statutes.

Why is this important

Trusts are major financial and estate planning tools affecting property transfer, wealth management, and creditor protections for millions of Oklahomans. Adopting uniform trust standards reduces legal complexity, increases predictability for trustees and beneficiaries, and facilitates interstate trust administration—particularly important as families and assets increasingly cross state lines.

Potential points of contention

  • Creditor access to trusts: The bill's rules on when creditors can claim trust assets may shift protections between beneficiaries and creditors, potentially affecting asset protection strategies that families previously relied upon
  • Trustee liability and duties: New standardized duties could expose trustees (often family members) to greater legal liability or operational constraints compared to Oklahoma's prior, potentially more flexible standards
  • Revocable trust provisions: Changes to how revocable trusts function during the settlor's lifetime and at death may alter tax planning strategies and inheritance outcomes for existing trusts

Compiled from official sources — confirm details with the bill’s official record.

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