OK HB4196

Forfeiture clauses in wills or trusts that penalize beneficiaries for bringing court actions are enforceable unless the challenger proves by preponderance of evidence that just cause existed and the action was brought in good faith; such clauses cannot prevent beneficiaries from compelling fiduciary duties, seeking breach remedies, or requesting judicial construction

Trustees may obtain nonjudicial settlement of accounts when a trust terminates, the trustee ceases to serve, or for interim accounting periods by providing notice to qualified beneficiaries with 30 months of account statements, proposed distributions, and estimated fees; recipients have 60 days to object or claims against the trustee are barred

District court venue for trust actions changes from the county where trustees reside to the location specified in Section 1602.3; necessary parties are redefined to include qualified beneficiaries, current trustees, and persons actually receiving distributions rather than all named beneficiaries with vested interests

The definition of "qualified beneficiary" is expanded to include beneficiaries with vested remainders and those who would be distributees if current interests terminated or the trust terminated, in addition to current distributees and permissible distributees

Former trustees must deliver trust property to successors within a reasonable time rather than "expeditiously," and may retain a reasonable reserve for debts, expenses, and taxes; effective date is November 1, 2026