(2) ORS 130.350 to 130.450 apply only if:
(a) A claim is made against assets of a trust;
(b) The trust came into existence during the settlor’s lifetime and was a revocable trust at any time after the trust was created and before the death of the settlor;
(c) The claim is based on the debts or liabilities of the settlor; and
(d) The claim is made against the assets of the trust after the death of the settlor.
(3) ORS 130.350 to 130.450 apply to all claims against a trust described in subsection (2) of this section, without regard to whether the claims are contingent, unliquidated or not yet due. [Formerly 128.256]