A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than Fifty Thousand Dollars ($50,000.00) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. B. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration. C. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust. D. This section does not apply to an easement for conservation or preservation.
Okla. Stat. tit. 60, § 1604.13
Modification or termination of uneconomic trust
Added by Laws 2025, c. 254, § 32, eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.