DESCRIPTION
The Far-Away Safe Place Right Next Door:
The Oklahoma Preservation Trust in Integrated Estate Planning
(With Forms and Checklists)
Session #3: The Safest Place of All: The Preservation Trust Protection Mechanism
Oklahoma’s Preservation Trust has two distinguishing features: it can be revocable, and it protects assets by a statutory creditor exemption mechanism instead of trustee discretion or a statutory mutation of the traditional spendthrift provision. This Session explores and explains the exemption mechanism. It unwraps the legal aspects of the Preservation Trust’s revocability feature, and shows how it works for – and not against – protecting family wealth.
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.