Credit: Alon Harel/Adobe Stock Wrongful Death Suit Proceeds May Be Transferred Before Being Obtained, High Court Rules in First-Impression Case
"The proceeds of such lawsuits are akin to trust funds held for the statutory beneficiaries. Nothing in the will and trust statutes prohibits the transfer of expected proceeds into a trust," said Justice Yvonne Kauger. "Prohibiting such a transfer would be counterintuitive to the nature of an estate trust, and our prior treatment of wrongful death proceeds."
October 30, 2023 at 06:11 PM
5 minute read
Trusts and Estates
In a matter of first impression, the Oklahoma Supreme Court addressed whether proceeds from a wrongful death case could be transferred into a trust before they're obtained by the trust settlor.
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