Arkansas Code Title 28, Subtitle 5, Chapter 73, Subchapter 4 - Creation, Validity, Modification, and Termination of Trust

• § 28-73-401 - Methods of Creating Trust.
  A trust may be created by: (1) transfer of property to another person as trustee during the settlor's lifetime or by will or other...
• § 28-73-402 - Requirements for Creation.
  (a) A trust is created only if: (1) the settlor has capacity to create a trust; (2) the settlor indicates an intention to create...
• § 28-73-403 - Trusts Created in Other Jurisdictions.
  A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument...
• § 28-73-404 - Trust Purposes.
  A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust...
• § 28-73-405 - Charitable Purposes -- Enforcement.
  (a) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or...
• § 28-73-406 - Creation of Trust Induced by Fraud, Duress, or Undue Influence.
  A trust is void to the extent its creation was induced by fraud, duress, or undue influence.
• § 28-73-407 - Evidence of Oral Trust.
  Except as required by a statute other than this chapter, a trust need not be evidenced by a trust instrument, but the creation of...
• § 28-73-408 - Trust for Care of Animal.
  (a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the...
• § 28-73-409 - Noncharitable Trust Without Ascertainable Beneficiary.
  Except as otherwise provided in § 28-73-408 or by another statute, the following rules apply: (1) a trust may be created for a noncharitable...
• § 28-73-410 - Modification or Termination of Trust -- Proceedings for Approval or Disapproval.
  (a) In addition to the methods of termination prescribed by §§ 28-73-411 -- 28-73-414, a trust terminates to the extent the trust is revoked...
• § 28-73-411 - Modification or Termination of Noncharitable Irrevocable Trust by Consent.
  (a) (1) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or...
• § 28-73-412 - Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively.
  (a) In addition to the procedure available under § 28-69-401 et seq., a court may modify the administrative or dispositive terms of a trust...
• § 28-73-413 - Cy Pres.
  (a) Except as otherwise provided in subsection (b), if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1) the trust...
• § 28-73-414 - Modification or Termination of Uneconomic Trust.
  (a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than one hundred...
• § 28-73-415 - Reformation to Correct Mistakes.
  A court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved...
• § 28-73-416 - Modification to Achieve Settlor's Tax Objectives.
  To achieve the settlor's tax objectives, a court may modify the terms of a trust in a manner that is not contrary to the...
• § 28-73-417 - Combination and Division of Trusts.
  (a) (1) After notice to the qualified beneficiaries, a trustee may combine two (2) or more trusts into a single trust or divide a...

Last modified: November 15, 2016