Arkansas Code Title 28, Subtitle 5, Chapter 73, Subchapter 8 - Duties and Powers of Trustee

• § 28-73-801 - Duty to Administer Trust.
  Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests...
• § 28-73-802 - Duty of Loyalty.
  (a) A trustee shall administer the trust solely in the interests of the beneficiaries.(b) Subject to the rights of persons dealing with or assisting...
• § 28-73-803 - Impartiality.
  If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due...
• § 28-73-804 - Prudent Administration.
  A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust....
• § 28-73-805 - Costs of Administration.
  In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust,...
• § 28-73-806 - Trustee's Skills.
  A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills...
• § 28-73-807 - Delegation by Trustee.
  (a) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall...
• § 28-73-808 - Powers to Direct.
  (a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.(b)...
• § 28-73-809 - Control and Protection of Trust Property.
  A trustee shall take reasonable steps to take control of and protect the trust property.
• § 28-73-810 - Recordkeeping and Identification of Trust Property.
  (a) A trustee shall keep adequate records of the administration of the trust.(b) A trustee shall keep trust property separate from the trustee's own...
• § 28-73-811 - Enforcement and Defense of Claims.
  A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.
• § 28-73-812 - Collecting Trust Property.
  A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress...
• § 28-73-813 - Duty to Inform and Report.
  (a) A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts...
• § 28-73-814 - Discretionary Powers -- Tax Savings.
  (a) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as "absolute",...
• § 28-73-815 - General Powers of Trustee.
  (a) A trustee, without authorization by a court, may exercise: (1) powers conferred by the terms of the trust; and (2) except as limited...
• § 28-73-816 - Specific Powers of Trustee.
  Without limiting the authority conferred by § 28-73-815, a trustee may: (1) collect trust property and accept or reject additions to the trust property...
• § 28-73-817 - Distribution Upon Termination.
  (a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any...

Last modified: November 15, 2016