OK SB150

Amends Section 175.90 of the Oklahoma Discretionary and Special Needs Trust Act regarding creditor attachment of trust distributions.

Clarifies that creditors cannot attach distributions from trusts if the creditor's claim falls outside the trust's distribution standard.

Validates restrictions that limit a trustee's distribution powers when the trustee is also a beneficiary, specifically when distributions could affect federal or state benefits eligibility (Medicaid, SSI, SSDI, etc.).

Voids all other restrictions on trustee distribution powers as to exception creditors, except those protecting beneficiary eligibility for public benefits programs.

Effective date: November 1, 2011.