§31-12. Corpus and income of preservation trust exempt from attachment, execution, forced sale, and liens – Exceptions – Transfer of assets.
Notwithstanding Section 3 of this title and Section 299.15 of Title 60 of the Oklahoma Statutes, the corpus and income of a preservation trust shall be exempt from attachment or execution and every other species of forced sale and no judgment, decree, or execution can be a lien on the trust for the payment of […]
§31-13. Preservation trust – Revocable or irrevocable – Contributions.
A preservation trust may be established as a revocable and amendable trust or as an irrevocable trust. If the grantor of a preservation trust revokes or partially revokes the preservation trust, the exemption provisions of Section 12 of this title shall not be applicable to any property received by the grantor as a result of […]
§31-14. Preservation trust exemptions independent and in addition to other exemptions.
The exemptions provided for pursuant to other provisions of the laws of this state shall be independent of and in addition to the exemption provided for pursuant to Section 12 of this title. Added by Laws 2004, c. 509, § 5, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 4, emerg. […]
§31-15. Effect on homestead exemption.
The provisions of the Family Wealth Preservation Trust Act shall not operate to increase the area and value of the homestead exemption provided for pursuant to Section 2 of this title. Added by Laws 2004, c. 509, § 6, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 5, emerg. eff. June […]
§31-16. Revocation of preservation trust cannot be compelled – Restrictions on transferability.
No court or other judicial body shall have the authority to compel a person holding a power of revocation or amendment over a preservation trust to exercise the power of revocation or amendment. The provisions of this act shall be considered restrictions on the transferability of the grantor’s beneficial interest in the preservation trust that […]
§31-1. Property exempt from attachment, execution or other forced sale – Bankruptcy proceedings.
A. Except as otherwise provided in this title and notwithstanding subsection B of this section, the following property shall be reserved to every person residing in the state, exempt from attachment or execution and every other species of forced sale for the payment of debts, except as herein provided: 1. The home of such person, […]
§31-1.1. Earnings from personal services – Exemption from process – Order.
A. Following the issuance of an execution, attachment, or garnishment, except process to collect a judgment or order for child support or maintenance of children or in cases in which the court has limited or reduced the application of this section pursuant to Section 142.18 of Title 21 of the Oklahoma Statutes, the debtor may […]