1. SB1018 would enact the Oklahoma Decanting Act. Drafted by a group of Oklahoma attorneys who practice in the area of trust law, this act is modeled on a similar statute in Texas, but modified to fit the particulars of Oklahoma laws and jurisprudence regarding trusts – such as being protective of beneficiaries. I participated in its drafting. Sen. Julie Daniels is the bill’s author. The bill has been referred to the Senate Judiciary Committee.
2. SB1064 is part of the efforts of the same group of Oklahoma attorneys. This bill would require that the meaning and effect of the terms of a trust be determined by the law of the jurisdiction designated in the terms of the trust or by the law of the jurisdiction where the trust is administered in the absence of a controlling designation in the terms of the trust. Sen. Daniels is the bill’s author. The bill is referred to the Senate Judiciary Committee.
3. SB1505 is part of the efforts of the same group of Oklahoma attorneys. This bill would enact the Oklahoma Non-Judicial Transfer of Trust Act, allowing for transfers of trusts to other jurisdictions under certain conditions and with certain types of notice. Sen. Daniels is the bill’s author. The bill is assigned to the Senate Judiciary Committee.
4. SB1003 would enact the Uniform Fiduciary Access to Digital Access Act. I have not yet reviewed to determine (i) whether it incorporates the revisions adopted by the Uniform Laws Commission when it approved the Revised Uniform Fiduciary Access to Digital Access Act and (ii) whether it properly integrates with Oklahoma laws regarding fiduciaries. When this proposal was last introduced, it had some errors, including reference to the wrong Oklahoma statutes governing guardians, because of other states’ use of the term conservator to refer to a guardian of the property. This bill is assigned to the Senate Judiciary Committee. Based on past experience, I do not anticipate that this bill will survive the committee.
5. HB3534 would create a status-based presumption of undue influence in cases of transfers to a caregiver with values exceeding $20,000. Rep. Chad Caldwell is the bill’s author. The bill is assigned to the House Judiciary Committee.
6. SB1046, SB1135, and SB1322 would each require background checks for guardians of minors, amending 30 O.S. 2-101. I have not reviewed them to determine how they overlap. I suspect that one of these bills will be passed and become law, given that whoever is pushing it has reached out to three separate senators for sponsorship.