1. Legal Age: A donor who conveys property to another person cannot be a minor.^[1]
2. In Writing: An express trust not created by will must be created by a written instrument signed by the grantor.^[2]

Amending/Revoking – Unless the terms of the trust expressly state that it is irrevocable, a trust is to be considered revocable by the grantor.^[3]

Bond Requirement – No trustee is required to put forward a bond unless this is a requirement under the terms of the trust instrument or a bond has been ordered by the court.^[4]

Certification of Trust – If a trustee opens a bank deposit account as part of their duties in administering a trust, the trustee may provide the bank with a certification of trust in order to prove the trust relationship.^[5]

Co-Trustees – Any power that is vested in three or more co-trustees may be exercised by majority decision, unless the terms of the trust state otherwise.^[6]

Contesting a Trust – In most cases, an action against the trustee for breach of trust must be commenced within two years of the trustee’s accounting for the period of the breach.^[7]

Costs Related to the Trust – The trustee must only incur reasonable costs in investing and managing the trust’s assets.^[8]

Jurisdiction – The district court in the county where the trustee or any cotrustees resides has original jurisdiction over actions regarding the administration of the trust.^[9]

Oral Trusts – Oklahoma state statute does not provide for the valid creation of oral trusts.

Pet Trusts – A trust for the care of one or more designated animals is valid in Oklahoma. Unless an earlier termination date is established, the trust terminates when no living animal is covered by the trust.^[10]

Signing Requirements – The written instrument creating a living trust must be signed by the grantor.^[2]

Spendthrift Provision – A direction in the terms of the trust instrument that a beneficiary’s interest shall be subject to a “spendthrift trust” is sufficient to restrain the alienation of said interest.^[11]

Trustee’s Compensation – If the terms of the trust do not stipulate or regulate the amount of the trustee’s compensation, the trustee may deduct reasonable compensation or commissions for services rendered in administering the trust.^[12]

Trustee’s Duties – The trustee has a duty to make prudent investment and management decisions regarding trust assets, and they must always consider the purposes, terms, distribution requirements, and other circumstances of the trust.^[13]

Trustee’s Powers – A trustee’s powers include the power to hold, buy, sell, exchange, and transfer real and personal property for the use of the trust, as well as to receive, invest, or disburse the earnings or returns from the trust estate.^[14]