130.510 UTC
603. Settlor’s powers; powers of withdrawal. (1) While the settlor of a revocable trust is alive,
rights of the beneficiaries are subject to the control of the settlor, and the
duties of the trustee are owed exclusively to the settlor. Beneficiaries other
than the settlor have no right to receive notice, information or reports under
this chapter.
(2) The rights of
the beneficiaries with respect to property that is subject to a power of
withdrawal are subject to the control of the holder of the power during the
period that the power may be exercised, and the duties of the trustee are owed
exclusively to the holder of a power of withdrawal with respect to the property
that is subject to the power. [2005 c.348 §48; 2009 c.275 §17]
Notes of Decisions
Cited in
4
cases (
2 in the last 5 years), 2015–2022 · leading case:
Tseng v. Tseng, 352 P.3d 74 (Or. Ct. App. 2015).
Tseng v. Tseng, 352 P.3d 74 (Or. Ct. App. 2015).
· cites it 14× “By placing control over beneficiary rights in the hands of the settlor during the settlor’s lifetime, ORS 130.510 has the “effect of postponing enforcement of the rights of the beneficiaries of a revocable trust until the death of the settlor or other person holding the power to…”
Lewis v. Worley, 507 P.3d 814 (Or. Ct. App. 2022).
· cites it 2× “Accordingly, even if petitioner did have a beneficial interest in the trust that respondent’s actions as trustee could harm in a cognizable way, he could not enforce that interest at the time that he filed his petition.”
Borough v. Caldwell (A171075), 497 P.3d 1260 (Or. Ct. App. 2021).
“”); ORS 130.510 (“While the settlor of a revocable trust is alive, rights of the beneficiaries are subject to the control of the settlor, and the duties of the trustee are owed exclusively to the settlor.”
Hannah v. Washington Cnty. Assessor & Dept. of Rev. (Or. T.C. 2016).
“” ORS 130.510, relating to revocable trusts, provides that generally, a trustee owes its duty to the settlor of a revocable trust, however, if a beneficiary holds a power of withdrawal, the trustees duties are to the holder of the power, with respect to that item of property.”
— Or. Rev. Stat. § 130.510(1) — 2 cases
Tseng v. Tseng, 352 P.3d 74 (Or. Ct. App. 2015).
“By placing control over beneficiary rights in the hands of the settlor during the settlor’s lifetime, ORS 130.510 has the “effect of postponing enforcement of the rights of the beneficiaries of a revocable trust until the death of the settlor or other person holding the power to…”
Lewis v. Worley, 507 P.3d 814 (Or. Ct. App. 2022).
“Accordingly, even if petitioner did have a beneficial interest in the trust that respondent’s actions as trustee could harm in a cognizable way, he could not enforce that interest at the time that he filed his petition.”
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