§60-175. Trust for benefit of spouse revoked upon death of maker -
277 words·~1 min read·
/ok/title-60-property/60-175A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Annulment or divorce - Exemptions.
A. If, after making an express trust, the trustor is divorced, all provisions in such express trust in favor of the trustor's former spouse, which are to take effect upon the death of the trustor, are thereby revoked. Annulment of the trustor's marriage shall have the same effect as a divorce. In the event of either divorce or annulment, the trustor's former spouse shall be treated for all purposes under the express trust, as having predeceased the trustor. For purposes of this section, "express trust" shall include a "Totten Trust" as described in Section 902 of Title 6 of the Oklahoma Statutes and shall not include a "business trust".
B. Subsection A of this section shall not apply:
1. If the decree of divorce or annulment is vacated;
2. If the trustor had remarried said former spouse and was married to said spouse at the time of the trustor's death;
3. If the decree of divorce or annulment contains a provision expressing an intention contrary to subsection A of this section;
4. If the trustor makes the express trust subsequent to the divorce or annulment;
5. To the extent, if any, the express trust contains a provision expressing an intention contrary to subsection A of this section; or
6. If prior to the death of the trustor and subsequent to the divorce or annulment, the trustor executes an amendment to said express trust which is not revoked or held invalid.
C. This section shall apply to any express trust, the trustor of which dies on or after November 1, 1987. Added by Laws 1987, c. 201, § 3, eff. Nov. 1, 1987.