THE OKLAHOMA BAR JOURNAL 16 | AUGUST 2026 What Trustees Need To Know About Oklahoma’s New Trust Code: Key Changes and Practical Applications By Amanda Swain Prior to enactment of the OUTC, Oklahoma courts looked to the Restatement (Second) and (Third) of Trusts as persuasive/ common-law guidance where the trust instrument, Oklahoma Statutes, or Oklahoma precedent did not supply the rule.3 The OUTC replaces much of that common-law framework with codified, and in many cases non-waivable, statutory duties and requirements.4 These changes include codified fiduciary obligations, more detailed notice and reporting requirements, and new exposure to creditor claims for certain trusts that become irrevocable at death. This article highlights several of the most significant changes affecting trustees, with particular attention to 1) expanded duties to control costs; 2) materially enhanced notice and reporting obligations; 3) strengthened enforcement of the duty of loyalty; and 4) new creditor claim provisions applicable to trusts that become irrevocable at the settlor’s death. FIDUCIARY DUTIES Duty to Control Costs The requirement of a fiduciary to only incur reasonable and necessary expenses has long been a part of trust common law5 but was not expressly required in the Oklahoma Trust Act.6 Change: The OUTC expressly mirrors the Uniform Prudent Investor rules7 but also ties cost control requirements to a trustee’s skills and delegation of duties to third parties. Oklahoma Statutes Title 60, §1608.5 imposes a direct restraint on trustees: “In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.” While the duty to incur only reasonable or necessary costs has been established for some time in the common law, this provision of the OUTC ties these costs back to the skill level of the trustee, the trustee’s delegation of duties to others and the trustee’s special skills. If a EFFECTIVE NOV. 1, 2025, Oklahoma enacted a modified version of the Uniform Trust Code (OUTC), significantly reshaping the legal landscape for trust administration in the state.1 Unlike many legislative changes, the OUTC applies not only to trusts created after its enactment but also to existing trusts.2 As a result, trustees may now be subject to duties and obligations that did not exist, or were less clearly defined, when the trust was originally drafted. Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff. Legal Potpourri
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