Ark. Code Ann. § 28-42-105 — AR Code / Title 28 / Chapter 42 / Section 28-42-105
Substitution of foreign for local representative
Status: in_force

(a) (1) If any other person has been appointed local personal representative, the foreign personal representative, not later than twenty (20) days after the dispatch of notice to him or her under § 28-42-102 , unless this period is extended for cause by the court, may apply for revocation of the appointment and for granting of ancillary letters to himself or herself. (2) Notice of the hearing on the application shall be given to the local personal representative. (b) (1) Upon the finding that the action is for the best interest of the estate, the court may revoke the letters of the local personal representative and grant the application of the foreign personal representative. (2) After the application is granted, the local personal representative shall deliver to the foreign personal representative all assets and records of the estate in his or her possession and shall account to the foreign personal representative and to the court. (3) The hearing on the account may be held immediately, or upon such notice as the court may direct. (4) Upon compliance with the court's direction, the local personal representative and his or her sureties shall be discharged. (c) (1) Upon qualification, the foreign personal representative shall be substituted in all actions and proceedings brought by or against the local personal representative in his or her representative capacity and shall be entitled to all the rights and be subject to all the burden arising out of the uncompleted administration in all respects as if it had been continued by the local personal representative. (2) If the local personal representative has served or has been served with any process or notice, no further service or notice shall be necessary, nor shall the time within which any steps may or must be taken be changed, unless the court in which the action or proceedings are pending so orders. Acts 1949, No. 140, § 182; A.S.A. 1947, § 62-3104.

(a) (1) If any other person has been appointed local personal representative, the foreign personal representative, not later than twenty (20) days after the dispatch of notice to him or her under § 28-42-102 , unless this period is extended for cause by the court, may apply for revocation of the appointment and for granting of ancillary letters to himself or herself. (2) Notice of the hearing on the application shall be given to the local personal representative.

(1) If any other person has been appointed local personal representative, the foreign personal representative, not later than twenty (20) days after the dispatch of notice to him or her under § 28-42-102 , unless this period is extended for cause by the court, may apply for revocation of the appointment and for granting of ancillary letters to himself or herself.

(2) Notice of the hearing on the application shall be given to the local personal representative.

(b) (1) Upon the finding that the action is for the best interest of the estate, the court may revoke the letters of the local personal representative and grant the application of the foreign personal representative. (2) After the application is granted, the local personal representative shall deliver to the foreign personal representative all assets and records of the estate in his or her possession and shall account to the foreign personal representative and to the court. (3) The hearing on the account may be held immediately, or upon such notice as the court may direct. (4) Upon compliance with the court's direction, the local personal representative and his or her sureties shall be discharged.

(1) Upon the finding that the action is for the best interest of the estate, the court may revoke the letters of the local personal representative and grant the application of the foreign personal representative.

(2) After the application is granted, the local personal representative shall deliver to the foreign personal representative all assets and records of the estate in his or her possession and shall account to the foreign personal representative and to the court.

(3) The hearing on the account may be held immediately, or upon such notice as the court may direct.

(4) Upon compliance with the court's direction, the local personal representative and his or her sureties shall be discharged.

(c) (1) Upon qualification, the foreign personal representative shall be substituted in all actions and proceedings brought by or against the local personal representative in his or her representative capacity and shall be entitled to all the rights and be subject to all the burden arising out of the uncompleted administration in all respects as if it had been continued by the local personal representative. (2) If the local personal representative has served or has been served with any process or notice, no further service or notice shall be necessary, nor shall the time within which any steps may or must be taken be changed, unless the court in which the action or proceedings are pending so orders.

(1) Upon qualification, the foreign personal representative shall be substituted in all actions and proceedings brought by or against the local personal representative in his or her representative capacity and shall be entitled to all the rights and be subject to all the burden arising out of the uncompleted administration in all respects as if it had been continued by the local personal representative.

(2) If the local personal representative has served or has been served with any process or notice, no further service or notice shall be necessary, nor shall the time within which any steps may or must be taken be changed, unless the court in which the action or proceedings are pending so orders.

Acts 1949, No. 140, § 182; A.S.A. 1947, § 62-3104.
Ark. Code Ann. § 28-53-106 — AR Code / Title 28 / Chapter 53 / Subchapter 1 / Section 28-53-106
Account not approved
Status: in_force

If the final account is not approved, the court shall enter an order specifying wherein and the extent to which the account is not approved and directing a restatement of the account and such further action, if any, on the part of the personal representative as the court finds to be proper. Acts 1949, No. 140, § 161; 1959, No. 190, § 1; A.S.A. 1947, § 62-2902.

If the final account is not approved, the court shall enter an order specifying wherein and the extent to which the account is not approved and directing a restatement of the account and such further action, if any, on the part of the personal representative as the court finds to be proper.

Acts 1949, No. 140, § 161; 1959, No. 190, § 1; A.S.A. 1947, § 62-2902.
Ark. Code Ann. § 28-75-102 — AR Code / Title 28 / Chapter 28 / Section 28-75-102
Definitions
Status: in_force

As used in this chapter: (1) "Account" means an arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. (2) "Agent" means an attorney-in-fact granted authority under a durable or nondurable power of attorney. (3) "Carries" means engages in the transmission of an electronic communication. (4) "Catalogue of electronic communications" means information that identifies each person with which a user has had an electronic communication, the time and date of the communication, and the electronic address of the person. (5) "Content of an electronic communication" means information concerning the substance or meaning of the communication which: (A) Has been sent or received by a user; (B) Is in electronic storage by a custodian providing an electronic-communication service to the public or is carried or maintained by a custodian providing a remote-computing service to the public; and (C) Is not readily accessible to the public. (6) "Court" means the circuit court of the county of residence of the account holder. (7) "Custodian" means a person that carries, maintains, processes, receives, or stores a digital asset of a user. (8) "Designated recipient" means a person chosen by a user using an online tool to administer digital assets of the user. (9) "Digital asset" means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record. (10) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. (11) "Electronic communication" has the same meaning set forth in 18 U.S.C. § 2510(12) , as amended. (12) "Electronic-communication service" means a custodian that provides to a user the ability to send or receive an electronic communication. (13) "Fiduciary" means an original, additional, or successor personal representative, guardian of the estate, agent, or trustee. (14) "Guardian of the estate" means a person appointed by a court to manage the estate of a living individual. The term includes a limited guardian and a temporary guardian. (15) "Information" means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. (16) "Online tool" means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person. (17) "Person" means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. (18) "Personal representative" means an executor, administrator, special administrator, or person that performs substantially the same function under law of this state other than this chapter. (19) "Power of attorney" means a record that grants an agent authority to act in the place of a principal. (20) "Principal" means an individual who grants authority to an agent in a power of attorney. (21) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. (22) "Remote-computing service" means a custodian that provides to a user computer-processing services or the storage of digital assets by means of an electronic communications system, as defined in 18 U.S.C. § 2510(14) , as amended. (23) "Terms-of-service agreement" means an agreement that controls the relationship between a user and a custodian. (24) "Trustee" means a fiduciary with legal title to property under an agreement or declaration that creates a beneficial interest in another. The term includes a successor trustee. (25) "User" means a person that has an account with a custodian. (26) "Ward" means an individual for whom a guardian of the estate has been appointed. The term includes an individual for whom an application for the appointment of a guardian of the estate is pending. (27) "Will" includes a codicil, testamentary instrument that only appoints an executor, and instrument that revokes or revises a testamentary instrument. Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.

As used in this chapter:

(1) "Account" means an arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user.

(2) "Agent" means an attorney-in-fact granted authority under a durable or nondurable power of attorney.

(3) "Carries" means engages in the transmission of an electronic communication.

(4) "Catalogue of electronic communications" means information that identifies each person with which a user has had an electronic communication, the time and date of the communication, and the electronic address of the person.

(5) "Content of an electronic communication" means information concerning the substance or meaning of the communication which: (A) Has been sent or received by a user; (B) Is in electronic storage by a custodian providing an electronic-communication service to the public or is carried or maintained by a custodian providing a remote-computing service to the public; and (C) Is not readily accessible to the public.

(A) Has been sent or received by a user;

(B) Is in electronic storage by a custodian providing an electronic-communication service to the public or is carried or maintained by a custodian providing a remote-computing service to the public; and

(C) Is not readily accessible to the public.

(6) "Court" means the circuit court of the county of residence of the account holder.

(7) "Custodian" means a person that carries, maintains, processes, receives, or stores a digital asset of a user.

(8) "Designated recipient" means a person chosen by a user using an online tool to administer digital assets of the user.

(9) "Digital asset" means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record.

(10) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

(11) "Electronic communication" has the same meaning set forth in 18 U.S.C. § 2510(12) , as amended.

(12) "Electronic-communication service" means a custodian that provides to a user the ability to send or receive an electronic communication.

(13) "Fiduciary" means an original, additional, or successor personal representative, guardian of the estate, agent, or trustee.

(14) "Guardian of the estate" means a person appointed by a court to manage the estate of a living individual. The term includes a limited guardian and a temporary guardian.

(15) "Information" means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like.

(16) "Online tool" means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person.

(17) "Person" means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity.

(18) "Personal representative" means an executor, administrator, special administrator, or person that performs substantially the same function under law of this state other than this chapter.

(19) "Power of attorney" means a record that grants an agent authority to act in the place of a principal.

(20) "Principal" means an individual who grants authority to an agent in a power of attorney.

(21) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

(22) "Remote-computing service" means a custodian that provides to a user computer-processing services or the storage of digital assets by means of an electronic communications system, as defined in 18 U.S.C. § 2510(14) , as amended.

(23) "Terms-of-service agreement" means an agreement that controls the relationship between a user and a custodian.

(24) "Trustee" means a fiduciary with legal title to property under an agreement or declaration that creates a beneficial interest in another. The term includes a successor trustee.

(25) "User" means a person that has an account with a custodian.

(26) "Ward" means an individual for whom a guardian of the estate has been appointed. The term includes an individual for whom an application for the appointment of a guardian of the estate is pending.

(27) "Will" includes a codicil, testamentary instrument that only appoints an executor, and instrument that revokes or revises a testamentary instrument.

Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.
Ark. Code Ann. § 28-65-314 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-314
Sales, mortgages, etc., of property generally
Status: in_force

(a) (1) The real or personal property of the ward not excluding real property in which a minor or mentally incompetent ward has a vested homestead interest, or any part thereof or interest therein, may be sold, conveyed, released, mortgaged, leased, or exchanged or an easement thereon may be granted by the guardian of the estate upon such terms as the court may order for the purpose of paying the ward's debts, for providing for his or her care, maintenance, and education and the care, maintenance, and education of his or her dependents, or for investing the proceeds, or in any other case in which it is for the best interest of the ward. (2) Participation by a guardian in behalf of his or her ward in the execution and delivery of one (1) or more deeds, bills of sale, assignments, or other appropriate instruments to accomplish the partition in kind between the owners thereof, of real or personal property in which the ward owns an undivided interest, for the purposes of this section shall be deemed an exchange of property of the ward. (b) (1) A guardian shall not purchase property of the ward unless sold at public sale and approved by the court, and then only if the guardian is a spouse, parent, child, brother, or sister of the ward and is a cotenant with the ward in the property. (2) (A) This requirement shall not be applicable when a special guardian is appointed to represent the interest of the ward and the special guardian reports to the court after the property has been appraised that the proposed purchase at a private sale is in the best interest of the ward. (B) The report of the special guardian shall also be subject to the approval of the court after notice to all interested parties is given and a hearing is held by the court. (c) Prior to or at the time of the approval of the sale of real or personal property made by a guardian, the court shall ascertain whether the guardian's bond is sufficient in amount and security to protect the estate of the ward with respect to the proceeds of the sale. If not, the court shall require that the guardian's bond be increased or supplemented in amount or security to adequately protect the ward's estate. (d) The provisions of §§ 28-51-105 - 28-51-109 , 28-51-201 - 28-51-203 , and 28-51-301 - 28-51-309 , relative to decedents' estates, shall apply to sales, mortgages, leases, and exchanges of property of the ward of a guardian, except that the extent of the term of a lease of real property of a ward shall not be limited to three (3) years, nor shall the credit to be extended by the guardian be limited to one (1) year. Acts 1985, No. 940, § 40; A.S.A. 1947, § 57-859; Acts 1991, No. 1068, § 1.

(a) (1) The real or personal property of the ward not excluding real property in which a minor or mentally incompetent ward has a vested homestead interest, or any part thereof or interest therein, may be sold, conveyed, released, mortgaged, leased, or exchanged or an easement thereon may be granted by the guardian of the estate upon such terms as the court may order for the purpose of paying the ward's debts, for providing for his or her care, maintenance, and education and the care, maintenance, and education of his or her dependents, or for investing the proceeds, or in any other case in which it is for the best interest of the ward. (2) Participation by a guardian in behalf of his or her ward in the execution and delivery of one (1) or more deeds, bills of sale, assignments, or other appropriate instruments to accomplish the partition in kind between the owners thereof, of real or personal property in which the ward owns an undivided interest, for the purposes of this section shall be deemed an exchange of property of the ward.

(1) The real or personal property of the ward not excluding real property in which a minor or mentally incompetent ward has a vested homestead interest, or any part thereof or interest therein, may be sold, conveyed, released, mortgaged, leased, or exchanged or an easement thereon may be granted by the guardian of the estate upon such terms as the court may order for the purpose of paying the ward's debts, for providing for his or her care, maintenance, and education and the care, maintenance, and education of his or her dependents, or for investing the proceeds, or in any other case in which it is for the best interest of the ward.

(2) Participation by a guardian in behalf of his or her ward in the execution and delivery of one (1) or more deeds, bills of sale, assignments, or other appropriate instruments to accomplish the partition in kind between the owners thereof, of real or personal property in which the ward owns an undivided interest, for the purposes of this section shall be deemed an exchange of property of the ward.

(b) (1) A guardian shall not purchase property of the ward unless sold at public sale and approved by the court, and then only if the guardian is a spouse, parent, child, brother, or sister of the ward and is a cotenant with the ward in the property. (2) (A) This requirement shall not be applicable when a special guardian is appointed to represent the interest of the ward and the special guardian reports to the court after the property has been appraised that the proposed purchase at a private sale is in the best interest of the ward. (B) The report of the special guardian shall also be subject to the approval of the court after notice to all interested parties is given and a hearing is held by the court.

(1) A guardian shall not purchase property of the ward unless sold at public sale and approved by the court, and then only if the guardian is a spouse, parent, child, brother, or sister of the ward and is a cotenant with the ward in the property.

(2) (A) This requirement shall not be applicable when a special guardian is appointed to represent the interest of the ward and the special guardian reports to the court after the property has been appraised that the proposed purchase at a private sale is in the best interest of the ward. (B) The report of the special guardian shall also be subject to the approval of the court after notice to all interested parties is given and a hearing is held by the court.

(A) This requirement shall not be applicable when a special guardian is appointed to represent the interest of the ward and the special guardian reports to the court after the property has been appraised that the proposed purchase at a private sale is in the best interest of the ward.

(B) The report of the special guardian shall also be subject to the approval of the court after notice to all interested parties is given and a hearing is held by the court.

(c) Prior to or at the time of the approval of the sale of real or personal property made by a guardian, the court shall ascertain whether the guardian's bond is sufficient in amount and security to protect the estate of the ward with respect to the proceeds of the sale. If not, the court shall require that the guardian's bond be increased or supplemented in amount or security to adequately protect the ward's estate.

(d) The provisions of §§ 28-51-105 - 28-51-109 , 28-51-201 - 28-51-203 , and 28-51-301 - 28-51-309 , relative to decedents' estates, shall apply to sales, mortgages, leases, and exchanges of property of the ward of a guardian, except that the extent of the term of a lease of real property of a ward shall not be limited to three (3) years, nor shall the credit to be extended by the guardian be limited to one (1) year.

Acts 1985, No. 940, § 40; A.S.A. 1947, § 57-859; Acts 1991, No. 1068, § 1.
Ark. Code Ann. § 28-65-322 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-322
Reports
Status: in_force

All guardians shall file an annual report with the court. The report shall contain: (1) The person's current mental, physical, and social conditions; (2) His or her present living arrangements; (3) The need for continued guardianship services; (4) An accounting of his or her estate if the guardian has been delegated that responsibility by the court order or as a result of being a guardian of the estate; and (5) Any other information requested by the court or necessary in the opinion of the guardian. Acts 1985, No. 940, § 25; A.S.A. 1947, § 57-844.

All guardians shall file an annual report with the court. The report shall contain:

(1) The person's current mental, physical, and social conditions;

(2) His or her present living arrangements;

(3) The need for continued guardianship services;

(4) An accounting of his or her estate if the guardian has been delegated that responsibility by the court order or as a result of being a guardian of the estate; and

(5) Any other information requested by the court or necessary in the opinion of the guardian.

Acts 1985, No. 940, § 25; A.S.A. 1947, § 57-844.
Ark. Code Ann. § 28-75-108 — AR Code / Title 28 / Chapter 28 / Section 28-75-108
Disclosure of other digital assets of deceased user
Status: in_force

Unless the user prohibited disclosure of digital assets or the court directs otherwise, a custodian shall disclose to the personal representative of the estate of a deceased user a catalogue of electronic communications sent or received by the user and digital assets, other than the content of electronic communications, of the user, if the representative gives the custodian: (1) a written request for disclosure in physical or electronic form; (2) a certified copy of the death certificate of the user; (3) a certified copy of the Letters Testamentary, Letters of Administration, or a small-estate affidavit or court order; and (4) if requested by the custodian: (A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account; (B) evidence linking the account to the user; (C) an affidavit stating that disclosure of the user's digital assets is reasonably necessary for administration of the estate; or (D) a finding by the court that: (i) the user had a specific account with the custodian, identifiable by the information specified in subparagraph (4)(A); or (ii) disclosure of the user's digital assets is reasonably necessary for administration of the estate. Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.

Unless the user prohibited disclosure of digital assets or the court directs otherwise, a custodian shall disclose to the personal representative of the estate of a deceased user a catalogue of electronic communications sent or received by the user and digital assets, other than the content of electronic communications, of the user, if the representative gives the custodian:

(1) a written request for disclosure in physical or electronic form;

(2) a certified copy of the death certificate of the user;

(3) a certified copy of the Letters Testamentary, Letters of Administration, or a small-estate affidavit or court order; and

(4) if requested by the custodian: (A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account; (B) evidence linking the account to the user; (C) an affidavit stating that disclosure of the user's digital assets is reasonably necessary for administration of the estate; or (D) a finding by the court that: (i) the user had a specific account with the custodian, identifiable by the information specified in subparagraph (4)(A); or (ii) disclosure of the user's digital assets is reasonably necessary for administration of the estate.

(A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;

(B) evidence linking the account to the user;

(C) an affidavit stating that disclosure of the user's digital assets is reasonably necessary for administration of the estate; or

(D) a finding by the court that: (i) the user had a specific account with the custodian, identifiable by the information specified in subparagraph (4)(A); or (ii) disclosure of the user's digital assets is reasonably necessary for administration of the estate.

(i) the user had a specific account with the custodian, identifiable by the information specified in subparagraph (4)(A); or

(ii) disclosure of the user's digital assets is reasonably necessary for administration of the estate.

Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.
Ark. Code Ann. § 28-73-410 — AR Code / Title 28 / Chapter 73 / Subchapter 4 / Section 28-73-410
Modification or termination of trust - Proceedings for approval or disapproval
Status: in_force

(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 or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve. (b) A proceeding to approve or disapprove a proposed modification or termination under §§ 28-73-411 - 28-73-416 , or trust combination or division under § 28-73-417 , may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under § 28-73-411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under § 28-73-413 . Acts 2005, No. 1031, § 1.

(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 or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.

(b) A proceeding to approve or disapprove a proposed modification or termination under §§ 28-73-411 - 28-73-416 , or trust combination or division under § 28-73-417 , may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under § 28-73-411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under § 28-73-413 .

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-9-217 — AR Code / Title 28 / Chapter 9 / Subchapter 2 / Section 28-9-217
Debts to decedent
Status: in_force

A debt owed to the decedent shall not be charged against the intestate share of any person except the debtor. If the debtor fails to survive the decedent, the debt shall not be taken into account in computing the share of the debtor's descendants. Acts 1969, No. 303, § 24; A.S.A. 1947, § 61-154.

A debt owed to the decedent shall not be charged against the intestate share of any person except the debtor. If the debtor fails to survive the decedent, the debt shall not be taken into account in computing the share of the debtor's descendants.

Acts 1969, No. 303, § 24; A.S.A. 1947, § 61-154.
Ark. Code Ann. § 28-11-303 — AR Code / Title 28 / Chapter 11 / Subchapter 3 / Section 28-11-303
Mortgaged land
Status: in_force

(a) When a person seized of an estate of inheritance in land shall have executed a mortgage of the estate before marriage, the surviving spouse, nevertheless, shall be entitled to dower or curtesy out of the lands mortgaged as against every person except the mortgagee and those claiming under him or her. (b) (1) When a person shall purchase lands during coverture and shall mortgage his or her estate in the lands to secure the payment of the purchase money, the surviving spouse shall not be entitled to dower or curtesy out of the lands as against the mortgagee or those claiming under him or her, although he or she shall not have united in the mortgage. However, he or she shall be entitled to dower or curtesy as against all other persons. (2) When, in such a case, the mortgagee or those claiming under him or her, shall, after the death of the mortgagor, cause the land mortgaged to be sold, either under a power contained in the mortgage or by virtue of the decree of a circuit court and any surplus shall remain after the payment of the moneys due on the mortgage and the costs and charges of sale, then the surviving spouse shall be entitled to the interest or income of one-third (1/3) part of the surplus for life, as his or her curtesy or dower. (c) A surviving spouse shall not be endowed of lands conveyed to the deceased spouse by way of mortgage unless the deceased spouse has acquired an absolute estate therein during the marriage. Rev. Stat., ch. 52, §§ 4-7; C. & M. Dig., §§ 3517-3520; Pope's Dig., §§ 4401-4404; Acts 1981, No. 714, §§ 27-30; A.S.A. 1947, §§ 61-210 -- 61-213.

(a) When a person seized of an estate of inheritance in land shall have executed a mortgage of the estate before marriage, the surviving spouse, nevertheless, shall be entitled to dower or curtesy out of the lands mortgaged as against every person except the mortgagee and those claiming under him or her.

(b) (1) When a person shall purchase lands during coverture and shall mortgage his or her estate in the lands to secure the payment of the purchase money, the surviving spouse shall not be entitled to dower or curtesy out of the lands as against the mortgagee or those claiming under him or her, although he or she shall not have united in the mortgage. However, he or she shall be entitled to dower or curtesy as against all other persons. (2) When, in such a case, the mortgagee or those claiming under him or her, shall, after the death of the mortgagor, cause the land mortgaged to be sold, either under a power contained in the mortgage or by virtue of the decree of a circuit court and any surplus shall remain after the payment of the moneys due on the mortgage and the costs and charges of sale, then the surviving spouse shall be entitled to the interest or income of one-third (1/3) part of the surplus for life, as his or her curtesy or dower.

(1) When a person shall purchase lands during coverture and shall mortgage his or her estate in the lands to secure the payment of the purchase money, the surviving spouse shall not be entitled to dower or curtesy out of the lands as against the mortgagee or those claiming under him or her, although he or she shall not have united in the mortgage. However, he or she shall be entitled to dower or curtesy as against all other persons.

(2) When, in such a case, the mortgagee or those claiming under him or her, shall, after the death of the mortgagor, cause the land mortgaged to be sold, either under a power contained in the mortgage or by virtue of the decree of a circuit court and any surplus shall remain after the payment of the moneys due on the mortgage and the costs and charges of sale, then the surviving spouse shall be entitled to the interest or income of one-third (1/3) part of the surplus for life, as his or her curtesy or dower.

(c) A surviving spouse shall not be endowed of lands conveyed to the deceased spouse by way of mortgage unless the deceased spouse has acquired an absolute estate therein during the marriage.

Rev. Stat., ch. 52, §§ 4-7; C. & M. Dig., §§ 3517-3520; Pope's Dig., §§ 4401-4404; Acts 1981, No. 714, §§ 27-30; A.S.A. 1947, §§ 61-210 -- 61-213.
Ark. Code Ann. § 28-39-307 — AR Code / Title 28 / Chapter 39 / Subchapter 3 / Section 28-39-307
Rights of surviving spouse when dower or curtesy land alienated by heir
Status: in_force

If the heir alienates lands of which a surviving spouse is entitled to dower or curtesy, he or she shall still be decreed his curtesy or her dower in the lands so alienated, in whosesoever hands the land may be. Rev. Stat., ch. 52, § 49; C. & M. Dig., § 3558; Pope's Dig., § 4444; Acts 1981, No. 714, § 61; A.S.A. 1947, § 62-719.

If the heir alienates lands of which a surviving spouse is entitled to dower or curtesy, he or she shall still be decreed his curtesy or her dower in the lands so alienated, in whosesoever hands the land may be.

Rev. Stat., ch. 52, § 49; C. & M. Dig., § 3558; Pope's Dig., § 4444; Acts 1981, No. 714, § 61; A.S.A. 1947, § 62-719.
Ark. Code Ann. § 28-40-115 — AR Code / Title 28 / Chapter 40 / Subchapter 1 / Section 28-40-115
Contest of will - Rights of persons acquiring interest in property prior to filing of objections
Status: in_force

(a) If, prior to the filing of an objection to the probate of a will, real or personal property or any security interest therein is acquired for value by a purchaser from, or a lender to, the personal representative of the estate or a distributee or devisee of the property by the terms of a will, the purchaser or lender shall take title free of rights of any interested person in the estate and incurs no personal liability to the estate or to any interested person whether or not the distribution was proper or supported by court order. (b) (1) This section protects a purchaser from, or lender to, a distributee, devisee, or personal representative who has executed a deed or security instrument to the purchaser or lender prior to the filing of objections to the will. (2) To be protected under this provision, a purchaser or lender need not inquire whether a personal representative acted properly in making the distribution in kind, even if the personal representative and the distributee or devisee are the same person. (c) Any properly recorded instruments conveying such property on which a state documentary fee is noted pursuant to §§ 26-60-101 - 26-60-103 and 26-60-105 - 26-60-112 shall be prima facie evidence that the transfer was made for value and shall not be adversely affected should a will be later set aside in the manner provided by law. Acts 1949, No. 140, § 53; 1951, No. 255, § 4; 1967, No. 287, § 2; 1985, No. 1007, § 2; A.S.A. 1947, § 62-2114.

(a) If, prior to the filing of an objection to the probate of a will, real or personal property or any security interest therein is acquired for value by a purchaser from, or a lender to, the personal representative of the estate or a distributee or devisee of the property by the terms of a will, the purchaser or lender shall take title free of rights of any interested person in the estate and incurs no personal liability to the estate or to any interested person whether or not the distribution was proper or supported by court order.

(b) (1) This section protects a purchaser from, or lender to, a distributee, devisee, or personal representative who has executed a deed or security instrument to the purchaser or lender prior to the filing of objections to the will. (2) To be protected under this provision, a purchaser or lender need not inquire whether a personal representative acted properly in making the distribution in kind, even if the personal representative and the distributee or devisee are the same person.

(1) This section protects a purchaser from, or lender to, a distributee, devisee, or personal representative who has executed a deed or security instrument to the purchaser or lender prior to the filing of objections to the will.

(2) To be protected under this provision, a purchaser or lender need not inquire whether a personal representative acted properly in making the distribution in kind, even if the personal representative and the distributee or devisee are the same person.

(c) Any properly recorded instruments conveying such property on which a state documentary fee is noted pursuant to §§ 26-60-101 - 26-60-103 and 26-60-105 - 26-60-112 shall be prima facie evidence that the transfer was made for value and shall not be adversely affected should a will be later set aside in the manner provided by law.

Acts 1949, No. 140, § 53; 1951, No. 255, § 4; 1967, No. 287, § 2; 1985, No. 1007, § 2; A.S.A. 1947, § 62-2114.
Ark. Code Ann. § 28-54-106 — AR Code / Title 28 / Chapter 54 / Section 28-54-106
Insulated property - Advancement of tax
Status: in_force

(a) In this section: (1) "Advanced fraction" means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable. (2) "Advanced tax" means the aggregate amount of estate tax attributable to interests in insulated property which is required to be advanced by uninsulated holders under subsection (c). (3) "Insulated property" means property subject to a time-limited interest which is included in the apportionable estate but is unavailable for payment of an estate tax because of impossibility or impracticability. (4) "Uninsulated holder" means a person who has an interest in uninsulated property. (5) "Uninsulated property" means property included in the apportionable estate other than insulated property. (b) If an estate tax is to be advanced pursuant to subsection (c) by persons holding interests in uninsulated property subject to a time-limited interest other than property to which § 28-54-107 applies, the tax must be advanced, without further apportionment, from the principal of the uninsulated property. (c) Subject to § 28-54-109(b) and (d) , an estate tax attributable to interests in insulated property must be advanced ratably by uninsulated holders. If the value of an interest in uninsulated property is less than the amount of estate taxes otherwise required to be advanced by the holder of that interest, the deficiency must be advanced ratably by the persons holding interests in properties that are excluded from the apportionable estate under § 28-54-102(1)(B) as if those interests were in uninsulated property. (d) A court having jurisdiction to determine the apportionment of an estate tax may require a beneficiary of an interest in insulated property to pay all or part of the estate tax otherwise apportioned to the interest if the court finds that it would be substantially more equitable for that beneficiary to bear the tax liability personally than for that part of the tax to be advanced by uninsulated holders. (e) When a distribution of insulated property is made, each uninsulated holder may recover from the distributee a ratable portion of the advanced fraction of the property distributed. To the extent that undistributed insulated property ceases to be insulated, each uninsulated holder may recover from the property a ratable portion of the advanced fraction of the total undistributed property. (f) Upon a distribution of insulated property for which, pursuant to subsection (d), the distributee becomes obligated to make a payment to uninsulated holders, a court may award an uninsulated holder a recordable lien on the distributee's property to secure the distributee's obligation to that uninsulated holder. Acts 2007, No. 276, § 1.

(a) In this section: (1) "Advanced fraction" means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable. (2) "Advanced tax" means the aggregate amount of estate tax attributable to interests in insulated property which is required to be advanced by uninsulated holders under subsection (c). (3) "Insulated property" means property subject to a time-limited interest which is included in the apportionable estate but is unavailable for payment of an estate tax because of impossibility or impracticability. (4) "Uninsulated holder" means a person who has an interest in uninsulated property. (5) "Uninsulated property" means property included in the apportionable estate other than insulated property.

(1) "Advanced fraction" means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable.

(2) "Advanced tax" means the aggregate amount of estate tax attributable to interests in insulated property which is required to be advanced by uninsulated holders under subsection (c).

(3) "Insulated property" means property subject to a time-limited interest which is included in the apportionable estate but is unavailable for payment of an estate tax because of impossibility or impracticability.

(4) "Uninsulated holder" means a person who has an interest in uninsulated property.

(5) "Uninsulated property" means property included in the apportionable estate other than insulated property.

(b) If an estate tax is to be advanced pursuant to subsection (c) by persons holding interests in uninsulated property subject to a time-limited interest other than property to which § 28-54-107 applies, the tax must be advanced, without further apportionment, from the principal of the uninsulated property.

(c) Subject to § 28-54-109(b) and (d) , an estate tax attributable to interests in insulated property must be advanced ratably by uninsulated holders. If the value of an interest in uninsulated property is less than the amount of estate taxes otherwise required to be advanced by the holder of that interest, the deficiency must be advanced ratably by the persons holding interests in properties that are excluded from the apportionable estate under § 28-54-102(1)(B) as if those interests were in uninsulated property.

(d) A court having jurisdiction to determine the apportionment of an estate tax may require a beneficiary of an interest in insulated property to pay all or part of the estate tax otherwise apportioned to the interest if the court finds that it would be substantially more equitable for that beneficiary to bear the tax liability personally than for that part of the tax to be advanced by uninsulated holders.

(e) When a distribution of insulated property is made, each uninsulated holder may recover from the distributee a ratable portion of the advanced fraction of the property distributed. To the extent that undistributed insulated property ceases to be insulated, each uninsulated holder may recover from the property a ratable portion of the advanced fraction of the total undistributed property.

(f) Upon a distribution of insulated property for which, pursuant to subsection (d), the distributee becomes obligated to make a payment to uninsulated holders, a court may award an uninsulated holder a recordable lien on the distributee's property to secure the distributee's obligation to that uninsulated holder.

Acts 2007, No. 276, § 1.
Ark. Code Ann. § 28-72-103 — AR Code / Title 28 / Chapter 72 / Subchapter 1 / Section 28-72-103
Powers and duties of trustee
Status: in_force

(a) Any trustee so appointed by the circuit court of this state shall have authority to collect and receive and give a receipt for all sums of money or property of any kind or character that may be due any missing person or person imprisoned in any foreign country. (b) Upon receipt of property of any kind or anything of value, the trustee shall immediately report to the court the amount of money or other property received by him or her as trustee. (c) The court shall have authority to authorize the trustee to use the funds or property in the amount and in the manner provided by an order of the court for the support and maintenance of the family or dependents of the missing person or person imprisoned in any foreign country. Acts 1943, No. 71, § 2; A.S.A. 1947, § 58-202.

(a) Any trustee so appointed by the circuit court of this state shall have authority to collect and receive and give a receipt for all sums of money or property of any kind or character that may be due any missing person or person imprisoned in any foreign country.

(b) Upon receipt of property of any kind or anything of value, the trustee shall immediately report to the court the amount of money or other property received by him or her as trustee.

(c) The court shall have authority to authorize the trustee to use the funds or property in the amount and in the manner provided by an order of the court for the support and maintenance of the family or dependents of the missing person or person imprisoned in any foreign country.

Acts 1943, No. 71, § 2; A.S.A. 1947, § 58-202.
Ark. Code Ann. § 28-77-303 — AR Code / Title 28 / Chapter 77 / Subchapter 3 / Section 28-77-303
Authority of fiduciary
Status: in_force

(a) A fiduciary, without court approval, by complying with subsections (b) and (f), may: (1) convert an income trust to a unitrust if the fiduciary adopts in a record a unitrust policy for the trust providing: (A) that in administering the trust the net income of the trust will be a unitrust amount rather than net income determined without regard to this subchapter; and (B) the percentage and method used to calculate the unitrust amount; (2) change the percentage or method used to calculate a unitrust amount for a unitrust if the fiduciary adopts in a record a unitrust policy or an amendment or replacement of a unitrust policy providing changes in the percentage or method used to calculate the unitrust amount; or (3) convert a unitrust to an income trust if the fiduciary adopts in a record a determination that, in administering the trust, the net income of the trust will be net income determined without regard to this subchapter rather than a unitrust amount. (b) A fiduciary may take an action under subsection (a) if: (1) the fiduciary determines that the action will assist the fiduciary to administer a trust impartially; (2) the fiduciary sends a notice in a record, in the manner required by § 28-77-304 , describing and proposing to take the action; (3) the fiduciary sends a copy of the notice under paragraph (2) to each settlor of the trust which is: (A) if an individual, living; or (B) if not an individual, in existence; (4) at least one member of each class of the qualified beneficiaries determined under § 28-73-103 , other than the Attorney General, receiving the notice under paragraph (2) is: (A) if an individual, legally competent; (B) if not an individual, in existence; or (C) represented in the manner provided in § 28-77-304(b) ; and (5) the fiduciary does not receive, by the date specified in the notice under § 28-77-304(d)(5) , an objection in a record to the action proposed under paragraph (2) from a person to which the notice under paragraph (2) is sent. (c) If a fiduciary receives, not later than the date stated in the notice under § 28-77-304(d)(5) , an objection in a record described in § 28-77-304(d)(4) to a proposed action, the fiduciary or a beneficiary may request the court to have the proposed action taken as proposed, taken with modifications, or prevented. A person described in § 28-77-304(a) may oppose the proposed action in the proceeding under this subsection, whether or not the person: (1) consented under § 28-77-304(c) ; or (2) objected under § 28-77-304(d)(4) . (d) If, after sending a notice under subsection (b)(2), a fiduciary decides not to take the action proposed in the notice, the fiduciary shall notify in a record each person described in § 28-77-304(a) of the decision not to take the action and the reasons for the decision. (e) If a beneficiary requests in a record that a fiduciary take an action described in subsection (a) and the fiduciary declines to act or does not act within 90 days after receiving the request, the beneficiary may request the court to direct the fiduciary to take the action requested. (f) In deciding whether and how to take an action authorized by subsection (a), or whether and how to respond to a request by a beneficiary under subsection (e), a fiduciary shall consider all factors relevant to the trust and the beneficiaries, including relevant factors in § 28-77-201(e) . (g) A fiduciary may release or delegate the power to convert an income trust to a unitrust under subsection (a)(1), change the percentage or method used to calculate a unitrust amount under subsection (a)(2), or convert a unitrust to an income trust under subsection (a)(3), for a reason described in § 28-77-203(g) and in the manner described in § 28-77-203(h) . Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.

(a) A fiduciary, without court approval, by complying with subsections (b) and (f), may: (1) convert an income trust to a unitrust if the fiduciary adopts in a record a unitrust policy for the trust providing: (A) that in administering the trust the net income of the trust will be a unitrust amount rather than net income determined without regard to this subchapter; and (B) the percentage and method used to calculate the unitrust amount; (2) change the percentage or method used to calculate a unitrust amount for a unitrust if the fiduciary adopts in a record a unitrust policy or an amendment or replacement of a unitrust policy providing changes in the percentage or method used to calculate the unitrust amount; or (3) convert a unitrust to an income trust if the fiduciary adopts in a record a determination that, in administering the trust, the net income of the trust will be net income determined without regard to this subchapter rather than a unitrust amount.

(1) convert an income trust to a unitrust if the fiduciary adopts in a record a unitrust policy for the trust providing: (A) that in administering the trust the net income of the trust will be a unitrust amount rather than net income determined without regard to this subchapter; and (B) the percentage and method used to calculate the unitrust amount;

(A) that in administering the trust the net income of the trust will be a unitrust amount rather than net income determined without regard to this subchapter; and

(B) the percentage and method used to calculate the unitrust amount;

(2) change the percentage or method used to calculate a unitrust amount for a unitrust if the fiduciary adopts in a record a unitrust policy or an amendment or replacement of a unitrust policy providing changes in the percentage or method used to calculate the unitrust amount; or

(3) convert a unitrust to an income trust if the fiduciary adopts in a record a determination that, in administering the trust, the net income of the trust will be net income determined without regard to this subchapter rather than a unitrust amount.

(b) A fiduciary may take an action under subsection (a) if: (1) the fiduciary determines that the action will assist the fiduciary to administer a trust impartially; (2) the fiduciary sends a notice in a record, in the manner required by § 28-77-304 , describing and proposing to take the action; (3) the fiduciary sends a copy of the notice under paragraph (2) to each settlor of the trust which is: (A) if an individual, living; or (B) if not an individual, in existence; (4) at least one member of each class of the qualified beneficiaries determined under § 28-73-103 , other than the Attorney General, receiving the notice under paragraph (2) is: (A) if an individual, legally competent; (B) if not an individual, in existence; or (C) represented in the manner provided in § 28-77-304(b) ; and (5) the fiduciary does not receive, by the date specified in the notice under § 28-77-304(d)(5) , an objection in a record to the action proposed under paragraph (2) from a person to which the notice under paragraph (2) is sent.

(1) the fiduciary determines that the action will assist the fiduciary to administer a trust impartially;

(2) the fiduciary sends a notice in a record, in the manner required by § 28-77-304 , describing and proposing to take the action;

(3) the fiduciary sends a copy of the notice under paragraph (2) to each settlor of the trust which is: (A) if an individual, living; or (B) if not an individual, in existence;

(A) if an individual, living; or

(B) if not an individual, in existence;

(4) at least one member of each class of the qualified beneficiaries determined under § 28-73-103 , other than the Attorney General, receiving the notice under paragraph (2) is: (A) if an individual, legally competent; (B) if not an individual, in existence; or (C) represented in the manner provided in § 28-77-304(b) ; and

(A) if an individual, legally competent;

(B) if not an individual, in existence; or

(C) represented in the manner provided in § 28-77-304(b) ; and

(5) the fiduciary does not receive, by the date specified in the notice under § 28-77-304(d)(5) , an objection in a record to the action proposed under paragraph (2) from a person to which the notice under paragraph (2) is sent.

(c) If a fiduciary receives, not later than the date stated in the notice under § 28-77-304(d)(5) , an objection in a record described in § 28-77-304(d)(4) to a proposed action, the fiduciary or a beneficiary may request the court to have the proposed action taken as proposed, taken with modifications, or prevented. A person described in § 28-77-304(a) may oppose the proposed action in the proceeding under this subsection, whether or not the person: (1) consented under § 28-77-304(c) ; or (2) objected under § 28-77-304(d)(4) .

(1) consented under § 28-77-304(c) ; or

(2) objected under § 28-77-304(d)(4) .

(d) If, after sending a notice under subsection (b)(2), a fiduciary decides not to take the action proposed in the notice, the fiduciary shall notify in a record each person described in § 28-77-304(a) of the decision not to take the action and the reasons for the decision.

(e) If a beneficiary requests in a record that a fiduciary take an action described in subsection (a) and the fiduciary declines to act or does not act within 90 days after receiving the request, the beneficiary may request the court to direct the fiduciary to take the action requested.

(f) In deciding whether and how to take an action authorized by subsection (a), or whether and how to respond to a request by a beneficiary under subsection (e), a fiduciary shall consider all factors relevant to the trust and the beneficiaries, including relevant factors in § 28-77-201(e) .

(g) A fiduciary may release or delegate the power to convert an income trust to a unitrust under subsection (a)(1), change the percentage or method used to calculate a unitrust amount under subsection (a)(2), or convert a unitrust to an income trust under subsection (a)(3), for a reason described in § 28-77-203(g) and in the manner described in § 28-77-203(h) .

Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.
Ark. Code Ann. § 28-73-502 — AR Code / Title 28 / Chapter 73 / Subchapter 5 / Section 28-73-502
Spendthrift provision
Status: in_force

(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest. (b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust", or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest. (c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this subchapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary. Acts 2005, No. 1031, § 1.

(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.

(b) A term of a trust providing that the interest of a beneficiary is held subject to a "spendthrift trust", or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.

(c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this subchapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-72-206 — AR Code / Title 28 / Chapter 72 / Subchapter 2 / Section 28-72-206
Liability of trustee and the trust estate
Status: in_force

No trustee of such a trust, or any beneficiary thereof, shall be charged with any liability whatsoever by reason of any act or omission committed or suffered in the performance of the purposes of the trust. However, liability for any act or omission so committed or suffered shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge the liability, and not otherwise. Acts 1961, No. 459, § 6; A.S.A. 1947, § 58-406.

No trustee of such a trust, or any beneficiary thereof, shall be charged with any liability whatsoever by reason of any act or omission committed or suffered in the performance of the purposes of the trust. However, liability for any act or omission so committed or suffered shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge the liability, and not otherwise.

Acts 1961, No. 459, § 6; A.S.A. 1947, § 58-406.
Ark. Code Ann. § 28-48-108 — AR Code / Title 28 / Chapter 48 / Subchapter 1 / Section 28-48-108
Compensation of personal representative - Employment of attorneys, etc
Status: in_force

(a) The personal representative shall be allowed such compensation for his or her services, when and as earned, as the court shall deem just and reasonable. Except as provided in subsection (b) of this section, this compensation is not to exceed ten percent (10%) of the first one thousand dollars ($1,000), five percent (5%) of the next four thousand dollars ($4,000), and three percent (3%) of the balance of the value of the personal property passing through the hands of the personal representative, provided that compensation shall be allowed only on the value of such property as shall have been fully administered. (b) (1) When the personal representative has performed substantial duties with respect to or on account of real property of the decedent, the court, in addition to other compensation provided by the Probate Code, may allow a reasonable compensation for such services with the amount thereof to be fixed by the court, taking into consideration the nature and extent of the services, the extent and value of the real property, and other relevant circumstances. (2) The burden of the payment of the additional compensation shall be borne in accordance with applicable provisions of the will, if any. Otherwise, the burden of the payment shall be borne by the distributees or beneficiaries of the estate whom the court finds to have been benefited by the services, in accordance with the principles of equity. (c) The court, in the exercise of its discretion, may decline to allow any compensation to or on behalf of a personal representative who has failed, after being cited to do so, to file a satisfactory account or to perform any other substantial duty pertaining to his or her office, and, for the same reason, the court may reduce the compensation which would otherwise be allowed to or on behalf of such a personal representative. (d) (1) The personal representative may employ legal counsel in connection with the probate of the will or the administration of the estate, and the attorney so employed shall prepare and present to the circuit court all necessary notices, petitions, orders, appraisals, bills of sale, deeds, leases, contracts, agreements, inventories, financial accounts, reports, and all other proper and necessary legal instruments during the entire six (6) months, or longer when necessary, while the estate is required by law to remain open. (2) For the legal services described in subdivision (d)(1) of this section, the attorney, unless otherwise contracted with the personal representative, heirs, and beneficiaries of the estate, shall be allowed a fee based on the total market value of the real and personal property reportable in the circuit court, as follows: (A) Five percent (5%) of the first five thousand dollars ($5,000); (B) Four percent (4%) of the next twenty thousand dollars ($20,000); (C) Three percent (3%) of the next seventy-five thousand dollars ($75,000); (D) Two and three-fourths percent (2¾%) of the next three hundred thousand dollars ($300,000); (E) Two and one-half percent (2½%) of the next six hundred thousand dollars ($600,000); and (F) Two percent (2%) of the value of all properties thereafter. (3) If the schedule of fees as provided in subdivision (d)(2) of this section is determined by the court to be either excessive or insufficient under the circumstances, then the court shall allow the attorney a fee commensurate with the value of the legal services rendered. (e) When authorized by the will or the court, the personal representative may employ accountants, engineers, appraisers, and other persons whose services are reasonably required in connection with the administration of the estate, and the court shall fix or approve the compensation for such services, which shall be allowed as an item of expense of the administration. (f) (1) Upon election, a personal representative may fix his or her or its own fee and the fees of the attorneys for the estate or any accountant, auditor, or investment advisor without prior approval from the court, but the reasonableness of the compensation of any person so employed or the compensation for the services of the personal representative, either on petition of any interested person, on petition by the personal representative, or on the court's own motion, shall be reviewed by the court. (2) Any person who has received excessive compensation from the estate for services rendered may be ordered to make appropriate refunds. Acts 1949, No. 140, § 77; 1957, No. 297, § 2; 1967, No. 287, § 5; 1975, No. 620, § 9; A.S.A. 1947, § 62-2208.

(a) The personal representative shall be allowed such compensation for his or her services, when and as earned, as the court shall deem just and reasonable. Except as provided in subsection (b) of this section, this compensation is not to exceed ten percent (10%) of the first one thousand dollars ($1,000), five percent (5%) of the next four thousand dollars ($4,000), and three percent (3%) of the balance of the value of the personal property passing through the hands of the personal representative, provided that compensation shall be allowed only on the value of such property as shall have been fully administered.

(b) (1) When the personal representative has performed substantial duties with respect to or on account of real property of the decedent, the court, in addition to other compensation provided by the Probate Code, may allow a reasonable compensation for such services with the amount thereof to be fixed by the court, taking into consideration the nature and extent of the services, the extent and value of the real property, and other relevant circumstances. (2) The burden of the payment of the additional compensation shall be borne in accordance with applicable provisions of the will, if any. Otherwise, the burden of the payment shall be borne by the distributees or beneficiaries of the estate whom the court finds to have been benefited by the services, in accordance with the principles of equity.

(1) When the personal representative has performed substantial duties with respect to or on account of real property of the decedent, the court, in addition to other compensation provided by the Probate Code, may allow a reasonable compensation for such services with the amount thereof to be fixed by the court, taking into consideration the nature and extent of the services, the extent and value of the real property, and other relevant circumstances.

(2) The burden of the payment of the additional compensation shall be borne in accordance with applicable provisions of the will, if any. Otherwise, the burden of the payment shall be borne by the distributees or beneficiaries of the estate whom the court finds to have been benefited by the services, in accordance with the principles of equity.

(c) The court, in the exercise of its discretion, may decline to allow any compensation to or on behalf of a personal representative who has failed, after being cited to do so, to file a satisfactory account or to perform any other substantial duty pertaining to his or her office, and, for the same reason, the court may reduce the compensation which would otherwise be allowed to or on behalf of such a personal representative.

(d) (1) The personal representative may employ legal counsel in connection with the probate of the will or the administration of the estate, and the attorney so employed shall prepare and present to the circuit court all necessary notices, petitions, orders, appraisals, bills of sale, deeds, leases, contracts, agreements, inventories, financial accounts, reports, and all other proper and necessary legal instruments during the entire six (6) months, or longer when necessary, while the estate is required by law to remain open. (2) For the legal services described in subdivision (d)(1) of this section, the attorney, unless otherwise contracted with the personal representative, heirs, and beneficiaries of the estate, shall be allowed a fee based on the total market value of the real and personal property reportable in the circuit court, as follows: (A) Five percent (5%) of the first five thousand dollars ($5,000); (B) Four percent (4%) of the next twenty thousand dollars ($20,000); (C) Three percent (3%) of the next seventy-five thousand dollars ($75,000); (D) Two and three-fourths percent (2¾%) of the next three hundred thousand dollars ($300,000); (E) Two and one-half percent (2½%) of the next six hundred thousand dollars ($600,000); and (F) Two percent (2%) of the value of all properties thereafter. (3) If the schedule of fees as provided in subdivision (d)(2) of this section is determined by the court to be either excessive or insufficient under the circumstances, then the court shall allow the attorney a fee commensurate with the value of the legal services rendered.

(1) The personal representative may employ legal counsel in connection with the probate of the will or the administration of the estate, and the attorney so employed shall prepare and present to the circuit court all necessary notices, petitions, orders, appraisals, bills of sale, deeds, leases, contracts, agreements, inventories, financial accounts, reports, and all other proper and necessary legal instruments during the entire six (6) months, or longer when necessary, while the estate is required by law to remain open.

(2) For the legal services described in subdivision (d)(1) of this section, the attorney, unless otherwise contracted with the personal representative, heirs, and beneficiaries of the estate, shall be allowed a fee based on the total market value of the real and personal property reportable in the circuit court, as follows: (A) Five percent (5%) of the first five thousand dollars ($5,000); (B) Four percent (4%) of the next twenty thousand dollars ($20,000); (C) Three percent (3%) of the next seventy-five thousand dollars ($75,000); (D) Two and three-fourths percent (2¾%) of the next three hundred thousand dollars ($300,000); (E) Two and one-half percent (2½%) of the next six hundred thousand dollars ($600,000); and (F) Two percent (2%) of the value of all properties thereafter.

(A) Five percent (5%) of the first five thousand dollars ($5,000);

(B) Four percent (4%) of the next twenty thousand dollars ($20,000);

(C) Three percent (3%) of the next seventy-five thousand dollars ($75,000);

(D) Two and three-fourths percent (2¾%) of the next three hundred thousand dollars ($300,000);

(E) Two and one-half percent (2½%) of the next six hundred thousand dollars ($600,000); and

(F) Two percent (2%) of the value of all properties thereafter.

(3) If the schedule of fees as provided in subdivision (d)(2) of this section is determined by the court to be either excessive or insufficient under the circumstances, then the court shall allow the attorney a fee commensurate with the value of the legal services rendered.

(e) When authorized by the will or the court, the personal representative may employ accountants, engineers, appraisers, and other persons whose services are reasonably required in connection with the administration of the estate, and the court shall fix or approve the compensation for such services, which shall be allowed as an item of expense of the administration.

(f) (1) Upon election, a personal representative may fix his or her or its own fee and the fees of the attorneys for the estate or any accountant, auditor, or investment advisor without prior approval from the court, but the reasonableness of the compensation of any person so employed or the compensation for the services of the personal representative, either on petition of any interested person, on petition by the personal representative, or on the court's own motion, shall be reviewed by the court. (2) Any person who has received excessive compensation from the estate for services rendered may be ordered to make appropriate refunds.

(1) Upon election, a personal representative may fix his or her or its own fee and the fees of the attorneys for the estate or any accountant, auditor, or investment advisor without prior approval from the court, but the reasonableness of the compensation of any person so employed or the compensation for the services of the personal representative, either on petition of any interested person, on petition by the personal representative, or on the court's own motion, shall be reviewed by the court.

(2) Any person who has received excessive compensation from the estate for services rendered may be ordered to make appropriate refunds.

Acts 1949, No. 140, § 77; 1957, No. 297, § 2; 1967, No. 287, § 5; 1975, No. 620, § 9; A.S.A. 1947, § 62-2208.
Ark. Code Ann. § 28-26-105 — AR Code / Title 28 / Chapter 26 / Section 28-26-105
Devise of encumbered property
Status: in_force

A valid charge or encumbrance upon any property shall not revoke any provision of a previously executed will relating to the same property. However, the devisee shall take the property subject to the charge or encumbrance, the discharge of which will be governed by the provisions of § 28-53-113 . Acts 1949, No. 140, § 29; A.S.A. 1947, § 60-413.

A valid charge or encumbrance upon any property shall not revoke any provision of a previously executed will relating to the same property. However, the devisee shall take the property subject to the charge or encumbrance, the discharge of which will be governed by the provisions of § 28-53-113 .

Acts 1949, No. 140, § 29; A.S.A. 1947, § 60-413.
Ark. Code Ann. § 28-72-411 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-411
Exemption of third person from liability
Status: in_force

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining: (1) the validity of the purported custodial trustee's designation; (2) the propriety of, or the authority under this subchapter for, any action of the purported custodial trustee; (3) the validity or propriety of an instrument executed or instruction given pursuant to this subchapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or (4) the propriety of the application of property vested in the purported custodial trustee. Acts 1991, No. 273, § 11.

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:

(1) the validity of the purported custodial trustee's designation;

(2) the propriety of, or the authority under this subchapter for, any action of the purported custodial trustee;

(3) the validity or propriety of an instrument executed or instruction given pursuant to this subchapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or

(4) the propriety of the application of property vested in the purported custodial trustee.

Acts 1991, No. 273, § 11.
Ark. Code Ann. § 28-77-309 — AR Code / Title 28 / Chapter 77 / Subchapter 3 / Section 28-77-309
Special tax benefits - Other rules
Status: in_force

(a) A unitrust policy may: (1) provide methods and standards for: (A) determining the timing of distributions; (B) making distributions in cash or in kind or partly in cash and partly in kind; or (C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount; (2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or (3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries. (b) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person: (1) the unitrust rate established under § 28-77-306 may not be less than three percent or more than five percent; (2) the only provisions of § 28-77-307 which apply are § 28-77-307(a) and § 28-77-307(b)(1) , § 28-77-307(b)(4) , § 28-77-307(b)(5)(A) , and § 28-77-307(b)(9) ; (3) the only period that may be used under § 28-77-308 is a calendar year under § 28-77-308(a)(1) ; and (4) the only other provisions of § 28-77-308 which apply are § 28-77-308(b)(2)(A) and § 28-77-308(b)(3) . Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.

(a) A unitrust policy may: (1) provide methods and standards for: (A) determining the timing of distributions; (B) making distributions in cash or in kind or partly in cash and partly in kind; or (C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount; (2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or (3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.

(1) provide methods and standards for: (A) determining the timing of distributions; (B) making distributions in cash or in kind or partly in cash and partly in kind; or (C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;

(A) determining the timing of distributions;

(B) making distributions in cash or in kind or partly in cash and partly in kind; or

(C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;

(2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or

(3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.

(b) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person: (1) the unitrust rate established under § 28-77-306 may not be less than three percent or more than five percent; (2) the only provisions of § 28-77-307 which apply are § 28-77-307(a) and § 28-77-307(b)(1) , § 28-77-307(b)(4) , § 28-77-307(b)(5)(A) , and § 28-77-307(b)(9) ; (3) the only period that may be used under § 28-77-308 is a calendar year under § 28-77-308(a)(1) ; and (4) the only other provisions of § 28-77-308 which apply are § 28-77-308(b)(2)(A) and § 28-77-308(b)(3) .

(1) the unitrust rate established under § 28-77-306 may not be less than three percent or more than five percent;

(2) the only provisions of § 28-77-307 which apply are § 28-77-307(a) and § 28-77-307(b)(1) , § 28-77-307(b)(4) , § 28-77-307(b)(5)(A) , and § 28-77-307(b)(9) ;

(3) the only period that may be used under § 28-77-308 is a calendar year under § 28-77-308(a)(1) ; and

(4) the only other provisions of § 28-77-308 which apply are § 28-77-308(b)(2)(A) and § 28-77-308(b)(3) .

Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.
Ark. Code Ann. § 28-68-215 — AR Code / Title 28 / Chapter 68 / Subchapter 2 / Section 28-68-215
Retirement plans
Status: in_force

(a) In this section, "retirement plan" means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code: (1) an individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408 , as it existed on January 1, 2011; (2) a Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A , as it existed on January 1, 2011; (3) a deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q) , as it existed on January 1, 2011; (4) an annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b) , as it existed on January 1, 2011; (5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. Section 401(a) , as it existed on January 1, 2011; (6) a plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b) , as it existed on January 1, 2011; and (7) a nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A , as it existed on January 1, 2011. (b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans authorizes the agent to: (1) select the form and timing of payments under a retirement plan and withdraw benefits from a plan; (2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another; (3) establish a retirement plan in the principal's name; (4) make contributions to a retirement plan; (5) exercise investment powers available under a retirement plan; and (6) borrow from, sell assets to, or purchase assets from a retirement plan. Acts 2011, No. 805, § 1.

(a) In this section, "retirement plan" means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code: (1) an individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408 , as it existed on January 1, 2011; (2) a Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A , as it existed on January 1, 2011; (3) a deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q) , as it existed on January 1, 2011; (4) an annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b) , as it existed on January 1, 2011; (5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. Section 401(a) , as it existed on January 1, 2011; (6) a plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b) , as it existed on January 1, 2011; and (7) a nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A , as it existed on January 1, 2011.

(1) an individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408 , as it existed on January 1, 2011;

(2) a Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A , as it existed on January 1, 2011;

(3) a deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q) , as it existed on January 1, 2011;

(4) an annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b) , as it existed on January 1, 2011;

(5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. Section 401(a) , as it existed on January 1, 2011;

(6) a plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b) , as it existed on January 1, 2011; and

(7) a nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A , as it existed on January 1, 2011.

(b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans authorizes the agent to: (1) select the form and timing of payments under a retirement plan and withdraw benefits from a plan; (2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another; (3) establish a retirement plan in the principal's name; (4) make contributions to a retirement plan; (5) exercise investment powers available under a retirement plan; and (6) borrow from, sell assets to, or purchase assets from a retirement plan.

(1) select the form and timing of payments under a retirement plan and withdraw benefits from a plan;

(2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;

(3) establish a retirement plan in the principal's name;

(4) make contributions to a retirement plan;

(5) exercise investment powers available under a retirement plan; and

(6) borrow from, sell assets to, or purchase assets from a retirement plan.

Acts 2011, No. 805, § 1.
Ark. Code Ann. § 28-50-107 — AR Code / Title 28 / Chapter 50 / Section 28-50-107
Claims of personal representative
Status: in_force

A personal representative may establish a claim he or she may have against the estate by filing the claim with the court. Upon a hearing after such notice as it shall direct and if satisfied as to the validity of the claim, the court shall enter an order allowing it. Acts 1949, No. 140, § 116; A.S.A. 1947, § 62-2607.

A personal representative may establish a claim he or she may have against the estate by filing the claim with the court. Upon a hearing after such notice as it shall direct and if satisfied as to the validity of the claim, the court shall enter an order allowing it.

Acts 1949, No. 140, § 116; A.S.A. 1947, § 62-2607.
Ark. Code Ann. § 28-50-112 — AR Code / Title 28 / Chapter 50 / Section 28-50-112
Compromise of claims
Status: in_force

When a claim against the estate has been filed or suit thereon is pending, if it appears to be in the best interest of the estate and subject to the court's authorization or approval, the creditor and personal representative may compromise the claim whether due or not due, absolute or contingent, liquidated or unliquidated. Acts 1949, No. 140, § 121; A.S.A. 1947, § 62-2612.

When a claim against the estate has been filed or suit thereon is pending, if it appears to be in the best interest of the estate and subject to the court's authorization or approval, the creditor and personal representative may compromise the claim whether due or not due, absolute or contingent, liquidated or unliquidated.

Acts 1949, No. 140, § 121; A.S.A. 1947, § 62-2612.
Ark. Code Ann. § 28-65-207 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-207
Notice of hearing for appointment
Status: in_force

(a) Notice of the hearing for the appointment of a guardian need not be given to any person: (1) Who has signed the petition; (2) Who has in writing waived notice of the hearing, except the alleged incapacitated person may not waive notice; (3) Who actually appears at the hearing; (4) Whose existence, relationship to the alleged incapacitated person, or whereabouts is unknown and cannot by the exercise of reasonable diligence be ascertained; (5) Other than the alleged incapacitated person, whom the court finds to be beyond the limits of the continental United States or himself or herself incompetent; or (6) The alleged incapacitated person if the court finds that he or she is detained or confined by a foreign power or has disappeared. (b) Except as provided in subsection (a) of this section, before the court shall appoint a guardian, other than a temporary guardian, notice of the hearing of the application for the appointment of the guardian shall be served upon the following: (1) The alleged incapacitated person if over fourteen (14) years of age, and the alleged incapacitated person shall be notified of his or her rights under § 28-65-213 . This notice shall be served with the notice of hearing; (2) The parents of the alleged incapacitated person, if the alleged incapacitated person is a minor; (3) The spouse, if any, of the alleged incapacitated person; (4) Any other person who is the guardian of the person or of the estate of the alleged incapacitated person, or any other person who has the care and custody of the alleged incapacitated person, and the director of any agency from which the respondent is receiving services; (5) The Department of Human Services when the petition seeks appointment of a guardian who, at the time the petition is filed, serves as guardian of five (5) or more minor wards; (6) If there is neither a known parent nor known spouse, at least one (1) of the nearest competent relatives by blood or marriage of the alleged incapacitated person; and (7) If directed by the court: (A) Any department, bureau, agency, or political subdivision of the United States or of this state which makes or awards compensation, pension, insurance, or other allowance for the benefit of the ward or his or her estate; (B) Any department, bureau, agency, or political subdivision of the United States or of this state or any charitable organization, which may be charged with the supervision, control, or custody of the incompetent person; or (C) Any other person designated by the court. (c) (1) If the incapacitated person is over fourteen (14) years of age, there shall be personal service upon him or her if personal service can be had. Service on others may be had in any manner provided by § 28-1-112(b) or (e) . (2) The court, for good cause shown, may reduce the number of days of notice, but in every case at least twenty (20) days' notice shall be given. (3) It shall not be necessary that the person for whom guardianship is sought be represented by a guardian ad litem in the proceedings. Acts 1985, No. 940, § 12; A.S.A. 1947, § 57-831; Acts 1991, No. 163, § 2.

(a) Notice of the hearing for the appointment of a guardian need not be given to any person: (1) Who has signed the petition; (2) Who has in writing waived notice of the hearing, except the alleged incapacitated person may not waive notice; (3) Who actually appears at the hearing; (4) Whose existence, relationship to the alleged incapacitated person, or whereabouts is unknown and cannot by the exercise of reasonable diligence be ascertained; (5) Other than the alleged incapacitated person, whom the court finds to be beyond the limits of the continental United States or himself or herself incompetent; or (6) The alleged incapacitated person if the court finds that he or she is detained or confined by a foreign power or has disappeared.

(1) Who has signed the petition;

(2) Who has in writing waived notice of the hearing, except the alleged incapacitated person may not waive notice;

(3) Who actually appears at the hearing;

(4) Whose existence, relationship to the alleged incapacitated person, or whereabouts is unknown and cannot by the exercise of reasonable diligence be ascertained;

(5) Other than the alleged incapacitated person, whom the court finds to be beyond the limits of the continental United States or himself or herself incompetent; or

(6) The alleged incapacitated person if the court finds that he or she is detained or confined by a foreign power or has disappeared.

(b) Except as provided in subsection (a) of this section, before the court shall appoint a guardian, other than a temporary guardian, notice of the hearing of the application for the appointment of the guardian shall be served upon the following: (1) The alleged incapacitated person if over fourteen (14) years of age, and the alleged incapacitated person shall be notified of his or her rights under § 28-65-213 . This notice shall be served with the notice of hearing; (2) The parents of the alleged incapacitated person, if the alleged incapacitated person is a minor; (3) The spouse, if any, of the alleged incapacitated person; (4) Any other person who is the guardian of the person or of the estate of the alleged incapacitated person, or any other person who has the care and custody of the alleged incapacitated person, and the director of any agency from which the respondent is receiving services; (5) The Department of Human Services when the petition seeks appointment of a guardian who, at the time the petition is filed, serves as guardian of five (5) or more minor wards; (6) If there is neither a known parent nor known spouse, at least one (1) of the nearest competent relatives by blood or marriage of the alleged incapacitated person; and (7) If directed by the court: (A) Any department, bureau, agency, or political subdivision of the United States or of this state which makes or awards compensation, pension, insurance, or other allowance for the benefit of the ward or his or her estate; (B) Any department, bureau, agency, or political subdivision of the United States or of this state or any charitable organization, which may be charged with the supervision, control, or custody of the incompetent person; or (C) Any other person designated by the court.

(1) The alleged incapacitated person if over fourteen (14) years of age, and the alleged incapacitated person shall be notified of his or her rights under § 28-65-213 . This notice shall be served with the notice of hearing;

(2) The parents of the alleged incapacitated person, if the alleged incapacitated person is a minor;

(3) The spouse, if any, of the alleged incapacitated person;

(4) Any other person who is the guardian of the person or of the estate of the alleged incapacitated person, or any other person who has the care and custody of the alleged incapacitated person, and the director of any agency from which the respondent is receiving services;

(5) The Department of Human Services when the petition seeks appointment of a guardian who, at the time the petition is filed, serves as guardian of five (5) or more minor wards;

(6) If there is neither a known parent nor known spouse, at least one (1) of the nearest competent relatives by blood or marriage of the alleged incapacitated person; and

(7) If directed by the court: (A) Any department, bureau, agency, or political subdivision of the United States or of this state which makes or awards compensation, pension, insurance, or other allowance for the benefit of the ward or his or her estate; (B) Any department, bureau, agency, or political subdivision of the United States or of this state or any charitable organization, which may be charged with the supervision, control, or custody of the incompetent person; or (C) Any other person designated by the court.

(A) Any department, bureau, agency, or political subdivision of the United States or of this state which makes or awards compensation, pension, insurance, or other allowance for the benefit of the ward or his or her estate;

(B) Any department, bureau, agency, or political subdivision of the United States or of this state or any charitable organization, which may be charged with the supervision, control, or custody of the incompetent person; or

(C) Any other person designated by the court.

(c) (1) If the incapacitated person is over fourteen (14) years of age, there shall be personal service upon him or her if personal service can be had. Service on others may be had in any manner provided by § 28-1-112(b) or (e) . (2) The court, for good cause shown, may reduce the number of days of notice, but in every case at least twenty (20) days' notice shall be given. (3) It shall not be necessary that the person for whom guardianship is sought be represented by a guardian ad litem in the proceedings.

(1) If the incapacitated person is over fourteen (14) years of age, there shall be personal service upon him or her if personal service can be had. Service on others may be had in any manner provided by § 28-1-112(b) or (e) .

(2) The court, for good cause shown, may reduce the number of days of notice, but in every case at least twenty (20) days' notice shall be given.

(3) It shall not be necessary that the person for whom guardianship is sought be represented by a guardian ad litem in the proceedings.

Acts 1985, No. 940, § 12; A.S.A. 1947, § 57-831; Acts 1991, No. 163, § 2.
Ark. Code Ann. § 28-40-301 — AR Code / Title 28 / Chapter 40 / Subchapter 3 / Section 28-40-301
Circuit court jurisdiction
Status: in_force

Whenever any will shall be lost, or destroyed by accident or design, the circuit court shall have the same power to take proof of the execution of the will and to establish the same, as in cases of lost deeds. Rev. Stat., ch. 157, § 48; C. & M. Dig., § 10542; Pope's Dig., § 14560; A.S.A. 1947, § 60-301.

Whenever any will shall be lost, or destroyed by accident or design, the circuit court shall have the same power to take proof of the execution of the will and to establish the same, as in cases of lost deeds.

Rev. Stat., ch. 157, § 48; C. & M. Dig., § 10542; Pope's Dig., § 14560; A.S.A. 1947, § 60-301.
Ark. Code Ann. § 28-66-110 — AR Code / Title 28 / Chapter 66 / Section 28-66-110
Petitions and accounts, notices and hearings
Status: in_force

(1) Every guardian who has received or shall receive on account of his ward any moneys or other thing of value from the United States Department of Veterans Affairs shall file with the court annually, on the anniversary date of the appointment, in addition to such other accounts as may be required by the court, a full, true, and accurate account under oath of all moneys or other things of value so received by him, all earnings, interest, or profits derived therefrom and all property acquired therewith and of all disbursements therefrom, including interest paid on any loan or debt, and showing the balance thereof in his hands at the date of the account and how invested. (2) The guardian, at the time of filing any account, shall exhibit all securities or investments held by him to an officer of the bank or other depository wherein said securities or investments are held for safekeeping or to an authorized representative of the corporation which is surety on his bond, or to the judge or clerk of a court of record in this state, or, upon request of the guardian or other interested party, to any other reputable person designated by the court, who shall certify in writing that he has examined the securities or investments and identified them with those described in the account, and shall note any omissions or discrepancies. If the depository is the guardian, the certifying officer shall not be the officer verifying the account. The guardian may exhibit the securities or investments to the judge of the court, who shall indorse on the account and copy thereof a certificate that the securities or investments shown therein as held by the guardian were each in fact exhibited to him and that those exhibited to him were the same as those shown in the account, and note any omission or discrepancy. That certificate and the certificate of an official of the bank in which are deposited any funds for which the guardian is accountable, showing the amount on deposit, shall be prepared and signed in duplicate and one (1) of each shall be filed by the guardian with his account. (3) At the time of filing in the court any account, a certified copy thereof and a signed duplicate of each certificate filed with the court shall be sent by the guardian to the office of the United States Department of Veterans Affairs having jurisdiction over the area in which the court is located. A signed duplicate or a certified copy of any petition, motion, or other pleading, pertaining to an account, or to any matter other than an account and which is filed in the guardianship proceedings or in any proceeding for the purpose of removing the disability of minority or mental incapacity, shall be furnished by the person filing the same to the proper office of the United States Department of Veterans Affairs. Unless the hearing be waived in writing by the attorney of the United States Department of Veterans Affairs, and by all other persons, if any, entitled to notice, the court shall fix a time and place for the hearing on the account, petition, motion, or other pleading not less than fifteen (15) days nor more than thirty (30) days from the date same is filed, unless a different available date be stipulated in writing. Unless waived in writing, written notice of the time and place of hearing shall be given the United States Department of Veterans Affiars office concerned and the guardian and any others entitled to notice not less than fifteen (15) days prior to the date fixed for the hearing. The notice may be given by mail in which event it shall be deposited in the mails not less than fifteen (15) days prior to said date. The court, or clerk thereof, shall mail to said United States Department of Veterans Affairs office a copy of each order entered in any guardianship proceeding wherein the administrator is an interested party. (4) If the guardian is accountable for property derived from sources other than the United States Department of Veterans Affairs, he shall be accountable as is or may be required under the applicable law of this state pertaining to the property of minors or persons of unsound mind who are not beneficiaries of the United States Department of Veterans Affairs, and as to such other property shall be entitled to the compensation provided by such law. The account for other property may be combined with the account filed in accordance with this section. Acts 1943, No. 177, § 10; A.S.A. 1947, § 57-510; Acts 2005, No. 658, § 1.

(1) Every guardian who has received or shall receive on account of his ward any moneys or other thing of value from the United States Department of Veterans Affairs shall file with the court annually, on the anniversary date of the appointment, in addition to such other accounts as may be required by the court, a full, true, and accurate account under oath of all moneys or other things of value so received by him, all earnings, interest, or profits derived therefrom and all property acquired therewith and of all disbursements therefrom, including interest paid on any loan or debt, and showing the balance thereof in his hands at the date of the account and how invested.

(2) The guardian, at the time of filing any account, shall exhibit all securities or investments held by him to an officer of the bank or other depository wherein said securities or investments are held for safekeeping or to an authorized representative of the corporation which is surety on his bond, or to the judge or clerk of a court of record in this state, or, upon request of the guardian or other interested party, to any other reputable person designated by the court, who shall certify in writing that he has examined the securities or investments and identified them with those described in the account, and shall note any omissions or discrepancies. If the depository is the guardian, the certifying officer shall not be the officer verifying the account. The guardian may exhibit the securities or investments to the judge of the court, who shall indorse on the account and copy thereof a certificate that the securities or investments shown therein as held by the guardian were each in fact exhibited to him and that those exhibited to him were the same as those shown in the account, and note any omission or discrepancy. That certificate and the certificate of an official of the bank in which are deposited any funds for which the guardian is accountable, showing the amount on deposit, shall be prepared and signed in duplicate and one (1) of each shall be filed by the guardian with his account.

(3) At the time of filing in the court any account, a certified copy thereof and a signed duplicate of each certificate filed with the court shall be sent by the guardian to the office of the United States Department of Veterans Affairs having jurisdiction over the area in which the court is located. A signed duplicate or a certified copy of any petition, motion, or other pleading, pertaining to an account, or to any matter other than an account and which is filed in the guardianship proceedings or in any proceeding for the purpose of removing the disability of minority or mental incapacity, shall be furnished by the person filing the same to the proper office of the United States Department of Veterans Affairs. Unless the hearing be waived in writing by the attorney of the United States Department of Veterans Affairs, and by all other persons, if any, entitled to notice, the court shall fix a time and place for the hearing on the account, petition, motion, or other pleading not less than fifteen (15) days nor more than thirty (30) days from the date same is filed, unless a different available date be stipulated in writing. Unless waived in writing, written notice of the time and place of hearing shall be given the United States Department of Veterans Affiars office concerned and the guardian and any others entitled to notice not less than fifteen (15) days prior to the date fixed for the hearing. The notice may be given by mail in which event it shall be deposited in the mails not less than fifteen (15) days prior to said date. The court, or clerk thereof, shall mail to said United States Department of Veterans Affairs office a copy of each order entered in any guardianship proceeding wherein the administrator is an interested party.

(4) If the guardian is accountable for property derived from sources other than the United States Department of Veterans Affairs, he shall be accountable as is or may be required under the applicable law of this state pertaining to the property of minors or persons of unsound mind who are not beneficiaries of the United States Department of Veterans Affairs, and as to such other property shall be entitled to the compensation provided by such law. The account for other property may be combined with the account filed in accordance with this section.

Acts 1943, No. 177, § 10; A.S.A. 1947, § 57-510; Acts 2005, No. 658, § 1.
Ark. Code Ann. § 28-72-705 — AR Code / Title 28 / Chapter 72 / Subchapter 7 / Section 28-72-705
Beneficiaries - Named in writing - Provision for support - Income
Status: in_force

(a) The beneficiary of a spendthrift trust or domestic asset protection trust shall be named or clearly referred to in the document. (b) No spouse, former spouse, child, or dependent shall be a beneficiary unless the person is named or clearly referred to as a beneficiary in the document. (c) The provision for the beneficiary shall: (1) Be for the support, education, maintenance, and benefit of the beneficiary alone; (2) Be without reference to or limited by: (A) The beneficiary's needs, station in life, or mode of life; or (B) The needs of any other person, regardless of whether the person is dependent upon the beneficiary; and (3) Extend to all of the income from the trust estate devoted for that purpose by the creator of the trust without exception or deduction other than for: (A) Costs or fees regularly earned, paid, or incurred by the trustee for the administration or protection of the trust estate; or (B) Taxes paid or incurred by: (i) The trust estate; or (ii) The interest of the beneficiary of the trust. (d) The existence of a spendthrift trust or domestic asset protection trust shall not depend on the beneficiary's: (1) Character; (2) Capacity or incapacity; or (3) Competency or incompetency. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.

(a) The beneficiary of a spendthrift trust or domestic asset protection trust shall be named or clearly referred to in the document.

(b) No spouse, former spouse, child, or dependent shall be a beneficiary unless the person is named or clearly referred to as a beneficiary in the document.

(c) The provision for the beneficiary shall: (1) Be for the support, education, maintenance, and benefit of the beneficiary alone; (2) Be without reference to or limited by: (A) The beneficiary's needs, station in life, or mode of life; or (B) The needs of any other person, regardless of whether the person is dependent upon the beneficiary; and (3) Extend to all of the income from the trust estate devoted for that purpose by the creator of the trust without exception or deduction other than for: (A) Costs or fees regularly earned, paid, or incurred by the trustee for the administration or protection of the trust estate; or (B) Taxes paid or incurred by: (i) The trust estate; or (ii) The interest of the beneficiary of the trust.

(1) Be for the support, education, maintenance, and benefit of the beneficiary alone;

(2) Be without reference to or limited by: (A) The beneficiary's needs, station in life, or mode of life; or (B) The needs of any other person, regardless of whether the person is dependent upon the beneficiary; and

(A) The beneficiary's needs, station in life, or mode of life; or

(B) The needs of any other person, regardless of whether the person is dependent upon the beneficiary; and

(3) Extend to all of the income from the trust estate devoted for that purpose by the creator of the trust without exception or deduction other than for: (A) Costs or fees regularly earned, paid, or incurred by the trustee for the administration or protection of the trust estate; or (B) Taxes paid or incurred by: (i) The trust estate; or (ii) The interest of the beneficiary of the trust.

(A) Costs or fees regularly earned, paid, or incurred by the trustee for the administration or protection of the trust estate; or

(B) Taxes paid or incurred by: (i) The trust estate; or (ii) The interest of the beneficiary of the trust.

(i) The trust estate; or

(ii) The interest of the beneficiary of the trust.

(d) The existence of a spendthrift trust or domestic asset protection trust shall not depend on the beneficiary's: (1) Character; (2) Capacity or incapacity; or (3) Competency or incompetency.

(1) Character;

(2) Capacity or incapacity; or

(3) Competency or incompetency.

Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-15-108 — AR Code / Title 28 / Chapter 15 / Section 28-15-108
Right of surviving community-property spouse
Status: in_force

(a) The surviving community-property spouse of the decedent may assert a claim for relief with respect to a right under this chapter in accordance with the following rules: (1) In an action asserting a right in or to property, the surviving community-property spouse must: (A) not later than three years after the death of the decedent, commence an action against an heir, devisee, or nonprobate transferee of the decedent that is in possession of the property; or (B) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative. (2) In an action other than an action under paragraph (1), the surviving community-property spouse must: (A) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative; or (B) if a personal representative is not appointed, commence the action not later than three years after the death of the decedent. (b) Unless a timely demand is made under subsection (a)(1)(B) or (2)(A), the personal representative may distribute the assets of the decedent's estate without personal liability for a community-property spouse's claim under this chapter. Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.

(a) The surviving community-property spouse of the decedent may assert a claim for relief with respect to a right under this chapter in accordance with the following rules: (1) In an action asserting a right in or to property, the surviving community-property spouse must: (A) not later than three years after the death of the decedent, commence an action against an heir, devisee, or nonprobate transferee of the decedent that is in possession of the property; or (B) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative. (2) In an action other than an action under paragraph (1), the surviving community-property spouse must: (A) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative; or (B) if a personal representative is not appointed, commence the action not later than three years after the death of the decedent.

(1) In an action asserting a right in or to property, the surviving community-property spouse must: (A) not later than three years after the death of the decedent, commence an action against an heir, devisee, or nonprobate transferee of the decedent that is in possession of the property; or (B) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative.

(A) not later than three years after the death of the decedent, commence an action against an heir, devisee, or nonprobate transferee of the decedent that is in possession of the property; or

(B) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative.

(2) In an action other than an action under paragraph (1), the surviving community-property spouse must: (A) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative; or (B) if a personal representative is not appointed, commence the action not later than three years after the death of the decedent.

(A) not later than six months after appointment of the personal representative of the decedent, send a demand in a record to the personal representative; or

(B) if a personal representative is not appointed, commence the action not later than three years after the death of the decedent.

(b) Unless a timely demand is made under subsection (a)(1)(B) or (2)(A), the personal representative may distribute the assets of the decedent's estate without personal liability for a community-property spouse's claim under this chapter.

Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-54-110 — AR Code / Title 28 / Chapter 54 / Section 28-54-110
Right of reimbursement
Status: in_force

(a) A person required under § 28-54-109 to pay an estate tax greater than the amount due from the person under § 28-54-103 or § 28-54-104 has a right to reimbursement from another person to the extent that the other person has not paid the tax required by § 28-54-103 or § 28-54-104 and a right to reimbursement ratably from other persons to the extent that each has not contributed a portion of the amount collected under § 28-54-109(b) . (b) A fiduciary may enforce the right of reimbursement under subsection (a) on behalf of the person that is entitled to the reimbursement and shall take reasonable steps to do so if requested by the person. Acts 2007, No. 276, § 1.

(a) A person required under § 28-54-109 to pay an estate tax greater than the amount due from the person under § 28-54-103 or § 28-54-104 has a right to reimbursement from another person to the extent that the other person has not paid the tax required by § 28-54-103 or § 28-54-104 and a right to reimbursement ratably from other persons to the extent that each has not contributed a portion of the amount collected under § 28-54-109(b) .

(b) A fiduciary may enforce the right of reimbursement under subsection (a) on behalf of the person that is entitled to the reimbursement and shall take reasonable steps to do so if requested by the person.

Acts 2007, No. 276, § 1.
Ark. Code Ann. § 28-68-208 — AR Code / Title 28 / Chapter 68 / Subchapter 2 / Section 28-68-208
Banks and other financial institutions
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: (1) continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal; (2) establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent; (3) contract for services available from a financial institution, including renting a safe deposit box or space in a vault; (4) withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution; (5) receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them; (6) enter a safe deposit box or vault and withdraw or add to the contents; (7) borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal; (8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order, transfer money, receive the cash or other proceeds of those transactions, and accept a draft drawn by a person upon the principal and pay it when due; (9) receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument; (10) apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and (11) consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution. Acts 2011, No. 805, § 1.

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:

(1) continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;

(2) establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;

(3) contract for services available from a financial institution, including renting a safe deposit box or space in a vault;

(4) withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution;

(5) receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;

(6) enter a safe deposit box or vault and withdraw or add to the contents;

(7) borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order, transfer money, receive the cash or other proceeds of those transactions, and accept a draft drawn by a person upon the principal and pay it when due;

(9) receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument;

(10) apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and

(11) consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.

Acts 2011, No. 805, § 1.
Ark. Code Ann. § 28-42-102 — AR Code / Title 28 / Chapter 42 / Section 28-42-102
Application for ancillary letters
Status: in_force

(a) (1) A foreign personal representative, upon the filing of an authenticated copy of his or her domiciliary letters with the circuit court of the county of proper venue, may be issued letters in this state, notwithstanding that the personal representative is a nonresident of this state. (2) A corporate foreign personal representative need not otherwise qualify as a corporation to do business under the general corporation laws of this state to authorize it to act as ancillary personal representative in the particular estate if it complies with the provisions of §§ 28-42-104 and 28-42-105 . (b) Upon application by a foreign personal representative for the issuance of ancillary letters, preference shall be given to such an applicant, unless the court finds that the appointment will not be for the best interest of the estate. If the court so finds, the court may order the issuance of ancillary letters to any person eligible under the provisions of § 28-48-101 . (c) An interested person may apply for issuance of ancillary letters to a qualified person other than the foreign personal representative. In that event, the applicant, in the manner directed or approved by the court, shall give notice of the application to the foreign personal representative, if the foreign personal representative's name and address are known, and to the court which appointed him or her, if the court is known. If, at the time of filing the application, the name and address of the foreign representative or the court which appointed him or her are not known, the notice shall be given as soon thereafter, either before or after the issuance of letters, as the facts pertaining thereto become known. Acts 1949, No. 140, § 179; A.S.A. 1947, § 62-3101.

(a) (1) A foreign personal representative, upon the filing of an authenticated copy of his or her domiciliary letters with the circuit court of the county of proper venue, may be issued letters in this state, notwithstanding that the personal representative is a nonresident of this state. (2) A corporate foreign personal representative need not otherwise qualify as a corporation to do business under the general corporation laws of this state to authorize it to act as ancillary personal representative in the particular estate if it complies with the provisions of §§ 28-42-104 and 28-42-105 .

(1) A foreign personal representative, upon the filing of an authenticated copy of his or her domiciliary letters with the circuit court of the county of proper venue, may be issued letters in this state, notwithstanding that the personal representative is a nonresident of this state.

(2) A corporate foreign personal representative need not otherwise qualify as a corporation to do business under the general corporation laws of this state to authorize it to act as ancillary personal representative in the particular estate if it complies with the provisions of §§ 28-42-104 and 28-42-105 .

(b) Upon application by a foreign personal representative for the issuance of ancillary letters, preference shall be given to such an applicant, unless the court finds that the appointment will not be for the best interest of the estate. If the court so finds, the court may order the issuance of ancillary letters to any person eligible under the provisions of § 28-48-101 .

(c) An interested person may apply for issuance of ancillary letters to a qualified person other than the foreign personal representative. In that event, the applicant, in the manner directed or approved by the court, shall give notice of the application to the foreign personal representative, if the foreign personal representative's name and address are known, and to the court which appointed him or her, if the court is known. If, at the time of filing the application, the name and address of the foreign representative or the court which appointed him or her are not known, the notice shall be given as soon thereafter, either before or after the issuance of letters, as the facts pertaining thereto become known.

Acts 1949, No. 140, § 179; A.S.A. 1947, § 62-3101.
Ark. Code Ann. § 28-51-305 — AR Code / Title 28 / Chapter 51 / Subchapter 3 / Section 28-51-305
Report and confirmation
Status: in_force

(a) Within ten (10) days after making any sale, mortgage, or lease of real property, the personal representative shall make a verified report to the court of his or her proceeding, with proof of publication or posting in case the sale is made at public auction. The report shall state that the personal representative did not directly or indirectly acquire any beneficial interest in the real property, or the lease thereof, or, if he or she acquired any such interest, specific facts showing that it was acquired in conformity with the provisions of the Probate Code. (b) An interested person may file written objections to the confirmation. (c) (1) (A) The court shall examine the report and, if satisfied that the sale, mortgage, or lease has been at a price and on terms advantageous to the estate and in all respects made in conformity with law, shall confirm the sale, mortgage, or lease and order the personal representative to execute and deliver to the person entitled a deed, mortgage, lease, or other appropriate instrument. (B) However, no report shall be confirmed within five (5) days after the filing unless all persons interested in the estate, either in person or by attorney or guardian, shall consent in writing to the confirmation. (2) The instrument shall refer to the order of sale, mortgage, or lease by its date and the court by which it was made, shall transfer to the grantee, mortgagee, or lessee all the right, title, and interest of the decedent granted by the instrument, and shall discharge from liability for all debts and obligations incident to the administration of the estate, except encumbrances assumed. (d) If satisfied that the sale, mortgage, or lease is not advantageous to the estate or has not been made in conformity with law, the court may reject the sale, mortgage, or lease or require a reexecution of the order upon such terms and conditions as it may direct. (e) However, when the order is for private sale, mortgage, or lease, the court may approve the report and confirm the sale immediately, either by endorsement upon the report of sale, mortgage, or lease or by separate order of confirmation. If approval and confirmation is by endorsement upon the report, the report, with endorsement, shall be recorded. Acts 1949, No. 140, § 142; 1967, No. 287, § 14; A.S.A. 1947, § 62-2719.

(a) Within ten (10) days after making any sale, mortgage, or lease of real property, the personal representative shall make a verified report to the court of his or her proceeding, with proof of publication or posting in case the sale is made at public auction. The report shall state that the personal representative did not directly or indirectly acquire any beneficial interest in the real property, or the lease thereof, or, if he or she acquired any such interest, specific facts showing that it was acquired in conformity with the provisions of the Probate Code.

(b) An interested person may file written objections to the confirmation.

(c) (1) (A) The court shall examine the report and, if satisfied that the sale, mortgage, or lease has been at a price and on terms advantageous to the estate and in all respects made in conformity with law, shall confirm the sale, mortgage, or lease and order the personal representative to execute and deliver to the person entitled a deed, mortgage, lease, or other appropriate instrument. (B) However, no report shall be confirmed within five (5) days after the filing unless all persons interested in the estate, either in person or by attorney or guardian, shall consent in writing to the confirmation. (2) The instrument shall refer to the order of sale, mortgage, or lease by its date and the court by which it was made, shall transfer to the grantee, mortgagee, or lessee all the right, title, and interest of the decedent granted by the instrument, and shall discharge from liability for all debts and obligations incident to the administration of the estate, except encumbrances assumed.

(1) (A) The court shall examine the report and, if satisfied that the sale, mortgage, or lease has been at a price and on terms advantageous to the estate and in all respects made in conformity with law, shall confirm the sale, mortgage, or lease and order the personal representative to execute and deliver to the person entitled a deed, mortgage, lease, or other appropriate instrument. (B) However, no report shall be confirmed within five (5) days after the filing unless all persons interested in the estate, either in person or by attorney or guardian, shall consent in writing to the confirmation.

(A) The court shall examine the report and, if satisfied that the sale, mortgage, or lease has been at a price and on terms advantageous to the estate and in all respects made in conformity with law, shall confirm the sale, mortgage, or lease and order the personal representative to execute and deliver to the person entitled a deed, mortgage, lease, or other appropriate instrument.

(B) However, no report shall be confirmed within five (5) days after the filing unless all persons interested in the estate, either in person or by attorney or guardian, shall consent in writing to the confirmation.

(2) The instrument shall refer to the order of sale, mortgage, or lease by its date and the court by which it was made, shall transfer to the grantee, mortgagee, or lessee all the right, title, and interest of the decedent granted by the instrument, and shall discharge from liability for all debts and obligations incident to the administration of the estate, except encumbrances assumed.

(d) If satisfied that the sale, mortgage, or lease is not advantageous to the estate or has not been made in conformity with law, the court may reject the sale, mortgage, or lease or require a reexecution of the order upon such terms and conditions as it may direct.

(e) However, when the order is for private sale, mortgage, or lease, the court may approve the report and confirm the sale immediately, either by endorsement upon the report of sale, mortgage, or lease or by separate order of confirmation. If approval and confirmation is by endorsement upon the report, the report, with endorsement, shall be recorded.

Acts 1949, No. 140, § 142; 1967, No. 287, § 14; A.S.A. 1947, § 62-2719.
Ark. Code Ann. § 28-77-203 — AR Code / Title 28 / Chapter 77 / Subchapter 2 / Section 28-77-203
Fiduciary's power to adjust
Status: in_force

(a) Except as otherwise provided in the terms of a trust or this section, a fiduciary, in a record, without court approval, may adjust between income and principal if the fiduciary determines the exercise of the power to adjust will assist the fiduciary to administer the trust or estate impartially. (b) This section does not create a duty to exercise or consider the power to adjust under subsection (a) or to inform a beneficiary about the applicability of this section. (c) A fiduciary that in good faith exercises or fails to exercise the power to adjust under subsection (a) is not liable to a person affected by the exercise or failure to exercise. (d) In deciding whether and to what extent to exercise the power to adjust under subsection (a), a fiduciary shall consider all factors the fiduciary considers relevant, including relevant factors in § 28-77-201(e) and the application of § 28-77-401(i) , § 28-77-408 , and § 28-77-413 . (e) A fiduciary may not exercise the power under subsection (a) to make an adjustment or under § 28-77-408 to make a determination that an allocation is insubstantial if: (1) the adjustment or determination would reduce the amount payable to a current income beneficiary from a trust that qualifies for a special tax benefit, except to the extent the adjustment is made to provide for a reasonable apportionment of the total return of the trust between the current income beneficiary and successor beneficiaries; (2) the adjustment or determination would change the amount payable to a beneficiary, as a fixed annuity or a fixed fraction of the value of the trust assets, under the terms of the trust; (3) the adjustment or determination would reduce an amount that is permanently set aside for a charitable purpose under the terms of the trust, unless both income and principal are set aside for the charitable purpose; (4) possessing or exercising the power would cause a person to be treated as the owner of all or part of the trust for federal income tax purposes; (5) possessing or exercising the power would cause all or part of the value of the trust assets to be included in the gross estate of an individual for federal estate tax purposes; (6) possessing or exercising the power would cause an individual to be treated as making a gift for federal gift tax purposes; (7) the fiduciary is not an independent person; (8) the trust is irrevocable and provides for income to be paid to the settlor and possessing or exercising the power would cause the adjusted principal or income to be considered an available resource or available income under a public-benefit program; or (9) the trust is a unitrust under § 28-77-301 et seq. (f) If subsection (e)(4), (5), (6), or (7) applies to a fiduciary: (1) a co-fiduciary to which subsection (e)(4) through (7) does not apply may exercise the power to adjust, unless the exercise of the power by the remaining co-fiduciary or co-fiduciaries is not permitted by the terms of the trust or law other than this chapter; or (2) if there is no co-fiduciary to which subsection (e)(4) through (7) does not apply, the fiduciary may appoint a co-fiduciary to which subsection (e)(4) through (7) does not apply, which may be a special fiduciary with limited powers, and the appointed co-fiduciary may exercise the power to adjust under subsection (a), unless the appointment of a co-fiduciary or the exercise of the power by a co-fiduciary is not permitted by the terms of the trust or law other than this chapter. (g) A fiduciary may release or delegate to a co-fiduciary the power to adjust under subsection (a) if the fiduciary determines that the fiduciary's possession or exercise of the power will or may: (1) cause a result described in subsection (e)(1) through (6) or (8); or (2) deprive the trust of a tax benefit or impose a tax burden not described in subsection (e)(1) through (6). (h) A fiduciary's release or delegation to a co-fiduciary under subsection (g) of the power to adjust under subsection (a): (1) must be in a record; (2) applies to the entire power, unless the release or delegation provides a limitation, which may be a limitation to the power to adjust: (A) from income to principal; (B) from principal to income; (C) for specified property; or (D) in specified circumstances; (3) for a delegation, may be modified by a re-delegation under this subsection by the co-fiduciary to which the delegation is made; and (4) subject to paragraph (3), is permanent, unless the release or delegation provides a specified period, including a period measured by the life of an individual or the lives of more than one individual. (i) Terms of a trust which deny or limit the power to adjust between income and principal do not affect the application of this section, unless the terms of the trust expressly deny or limit the power to adjust under subsection (a). (j) The exercise of the power to adjust under subsection (a) in any accounting period may apply to the current period, the immediately preceding period, and one or more subsequent periods. (k) A description of the exercise of the power to adjust under subsection (a) must be: (1) included in a report, if any, sent to beneficiaries under § 28-73-813(c) ; or (2) communicated at least annually to the qualified beneficiaries determined under § 28-73-103(14) , other than all beneficiaries that receive or are entitled to receive income from the trust or would be entitled to receive a distribution of principal if the trust were terminated at the time the notice is sent, assuming no power of appointment is exercised. Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.

(a) Except as otherwise provided in the terms of a trust or this section, a fiduciary, in a record, without court approval, may adjust between income and principal if the fiduciary determines the exercise of the power to adjust will assist the fiduciary to administer the trust or estate impartially.

(b) This section does not create a duty to exercise or consider the power to adjust under subsection (a) or to inform a beneficiary about the applicability of this section.

(c) A fiduciary that in good faith exercises or fails to exercise the power to adjust under subsection (a) is not liable to a person affected by the exercise or failure to exercise.

(d) In deciding whether and to what extent to exercise the power to adjust under subsection (a), a fiduciary shall consider all factors the fiduciary considers relevant, including relevant factors in § 28-77-201(e) and the application of § 28-77-401(i) , § 28-77-408 , and § 28-77-413 .

(e) A fiduciary may not exercise the power under subsection (a) to make an adjustment or under § 28-77-408 to make a determination that an allocation is insubstantial if: (1) the adjustment or determination would reduce the amount payable to a current income beneficiary from a trust that qualifies for a special tax benefit, except to the extent the adjustment is made to provide for a reasonable apportionment of the total return of the trust between the current income beneficiary and successor beneficiaries; (2) the adjustment or determination would change the amount payable to a beneficiary, as a fixed annuity or a fixed fraction of the value of the trust assets, under the terms of the trust; (3) the adjustment or determination would reduce an amount that is permanently set aside for a charitable purpose under the terms of the trust, unless both income and principal are set aside for the charitable purpose; (4) possessing or exercising the power would cause a person to be treated as the owner of all or part of the trust for federal income tax purposes; (5) possessing or exercising the power would cause all or part of the value of the trust assets to be included in the gross estate of an individual for federal estate tax purposes; (6) possessing or exercising the power would cause an individual to be treated as making a gift for federal gift tax purposes; (7) the fiduciary is not an independent person; (8) the trust is irrevocable and provides for income to be paid to the settlor and possessing or exercising the power would cause the adjusted principal or income to be considered an available resource or available income under a public-benefit program; or (9) the trust is a unitrust under § 28-77-301 et seq.

(1) the adjustment or determination would reduce the amount payable to a current income beneficiary from a trust that qualifies for a special tax benefit, except to the extent the adjustment is made to provide for a reasonable apportionment of the total return of the trust between the current income beneficiary and successor beneficiaries;

(2) the adjustment or determination would change the amount payable to a beneficiary, as a fixed annuity or a fixed fraction of the value of the trust assets, under the terms of the trust;

(3) the adjustment or determination would reduce an amount that is permanently set aside for a charitable purpose under the terms of the trust, unless both income and principal are set aside for the charitable purpose;

(4) possessing or exercising the power would cause a person to be treated as the owner of all or part of the trust for federal income tax purposes;

(5) possessing or exercising the power would cause all or part of the value of the trust assets to be included in the gross estate of an individual for federal estate tax purposes;

(6) possessing or exercising the power would cause an individual to be treated as making a gift for federal gift tax purposes;

(7) the fiduciary is not an independent person;

(8) the trust is irrevocable and provides for income to be paid to the settlor and possessing or exercising the power would cause the adjusted principal or income to be considered an available resource or available income under a public-benefit program; or

(9) the trust is a unitrust under § 28-77-301 et seq.

(f) If subsection (e)(4), (5), (6), or (7) applies to a fiduciary: (1) a co-fiduciary to which subsection (e)(4) through (7) does not apply may exercise the power to adjust, unless the exercise of the power by the remaining co-fiduciary or co-fiduciaries is not permitted by the terms of the trust or law other than this chapter; or (2) if there is no co-fiduciary to which subsection (e)(4) through (7) does not apply, the fiduciary may appoint a co-fiduciary to which subsection (e)(4) through (7) does not apply, which may be a special fiduciary with limited powers, and the appointed co-fiduciary may exercise the power to adjust under subsection (a), unless the appointment of a co-fiduciary or the exercise of the power by a co-fiduciary is not permitted by the terms of the trust or law other than this chapter.

(1) a co-fiduciary to which subsection (e)(4) through (7) does not apply may exercise the power to adjust, unless the exercise of the power by the remaining co-fiduciary or co-fiduciaries is not permitted by the terms of the trust or law other than this chapter; or

(2) if there is no co-fiduciary to which subsection (e)(4) through (7) does not apply, the fiduciary may appoint a co-fiduciary to which subsection (e)(4) through (7) does not apply, which may be a special fiduciary with limited powers, and the appointed co-fiduciary may exercise the power to adjust under subsection (a), unless the appointment of a co-fiduciary or the exercise of the power by a co-fiduciary is not permitted by the terms of the trust or law other than this chapter.

(g) A fiduciary may release or delegate to a co-fiduciary the power to adjust under subsection (a) if the fiduciary determines that the fiduciary's possession or exercise of the power will or may: (1) cause a result described in subsection (e)(1) through (6) or (8); or (2) deprive the trust of a tax benefit or impose a tax burden not described in subsection (e)(1) through (6).

(1) cause a result described in subsection (e)(1) through (6) or (8); or

(2) deprive the trust of a tax benefit or impose a tax burden not described in subsection (e)(1) through (6).

(h) A fiduciary's release or delegation to a co-fiduciary under subsection (g) of the power to adjust under subsection (a): (1) must be in a record; (2) applies to the entire power, unless the release or delegation provides a limitation, which may be a limitation to the power to adjust: (A) from income to principal; (B) from principal to income; (C) for specified property; or (D) in specified circumstances; (3) for a delegation, may be modified by a re-delegation under this subsection by the co-fiduciary to which the delegation is made; and (4) subject to paragraph (3), is permanent, unless the release or delegation provides a specified period, including a period measured by the life of an individual or the lives of more than one individual.

(1) must be in a record;

(2) applies to the entire power, unless the release or delegation provides a limitation, which may be a limitation to the power to adjust: (A) from income to principal; (B) from principal to income; (C) for specified property; or (D) in specified circumstances;

(A) from income to principal;

(B) from principal to income;

(C) for specified property; or

(D) in specified circumstances;

(3) for a delegation, may be modified by a re-delegation under this subsection by the co-fiduciary to which the delegation is made; and

(4) subject to paragraph (3), is permanent, unless the release or delegation provides a specified period, including a period measured by the life of an individual or the lives of more than one individual.

(i) Terms of a trust which deny or limit the power to adjust between income and principal do not affect the application of this section, unless the terms of the trust expressly deny or limit the power to adjust under subsection (a).

(j) The exercise of the power to adjust under subsection (a) in any accounting period may apply to the current period, the immediately preceding period, and one or more subsequent periods.

(k) A description of the exercise of the power to adjust under subsection (a) must be: (1) included in a report, if any, sent to beneficiaries under § 28-73-813(c) ; or (2) communicated at least annually to the qualified beneficiaries determined under § 28-73-103(14) , other than all beneficiaries that receive or are entitled to receive income from the trust or would be entitled to receive a distribution of principal if the trust were terminated at the time the notice is sent, assuming no power of appointment is exercised.

(1) included in a report, if any, sent to beneficiaries under § 28-73-813(c) ; or

(2) communicated at least annually to the qualified beneficiaries determined under § 28-73-103(14) , other than all beneficiaries that receive or are entitled to receive income from the trust or would be entitled to receive a distribution of principal if the trust were terminated at the time the notice is sent, assuming no power of appointment is exercised.

Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.
Ark. Code Ann. § 28-25-102 — AR Code / Title 28 / Chapter 25 / Section 28-25-102
Witnesses
Status: in_force

(a) Any person, eighteen (18) years of age or older, competent to be witness generally in this state may act as attesting witness to a will. (b) No will is invalidated because attested by an interested witness, but an interested witness, unless the will is also attested by two (2) qualified disinterested witnesses, shall forfeit so much of the provision therein made for him or her as in the aggregate exceeds in value, as of the date of the testator's death, what he or she would have received had the testator died intestate. (c) No attesting witness is interested unless the will gives to him or her some beneficial interest by way of devise. (d) An attesting witness, even though interested, may be compelled to testify with respect to the will. Acts 1949, No. 140, § 18; A.S.A. 1947, § 60-402.

(a) Any person, eighteen (18) years of age or older, competent to be witness generally in this state may act as attesting witness to a will.

(b) No will is invalidated because attested by an interested witness, but an interested witness, unless the will is also attested by two (2) qualified disinterested witnesses, shall forfeit so much of the provision therein made for him or her as in the aggregate exceeds in value, as of the date of the testator's death, what he or she would have received had the testator died intestate.

(c) No attesting witness is interested unless the will gives to him or her some beneficial interest by way of devise.

(d) An attesting witness, even though interested, may be compelled to testify with respect to the will.

Acts 1949, No. 140, § 18; A.S.A. 1947, § 60-402.
Ark. Code Ann. § 28-9-209 — AR Code / Title 28 / Chapter 9 / Subchapter 2 / Section 28-9-209
Legitimacy of child - Effect
Status: in_force

(a) (1) If the parents of a child have lived together as man and wife and, before the birth of their child, have participated in a marriage ceremony in apparent compliance with the law of the state where the marriage ceremony was performed, though the attempted marriage is void, their child is deemed to be the legitimate child of both parents for all purposes of intestate succession. (2) A child born or conceived during a marriage is presumed to be the legitimate child of both spouses for the same purposes. (b) If a man has a child or children by a woman, and afterward intermarries with her and recognizes the child or children to be his, the child or children shall be deemed and considered legitimate. (c) Any child conceived following artificial insemination of a married woman with the consent of her husband shall be treated as their child for all purposes of intestate succession. Consent of the husband is presumed unless the contrary is shown by clear and convincing evidence. (d) An illegitimate child or his or her descendants may inherit real or personal property in the same manner as a legitimate child from the child's mother or her blood kindred. The child may inherit real or personal property from his or her father or from his or her father's blood kindred, provided that at least one (1) of the following conditions is satisfied and an action is commenced or claim asserted against the estate of the father in a court of competent jurisdiction within one hundred eighty (180) days of the death of the father: (1) A court of competent jurisdiction has established the paternity of the child or has determined the legitimacy of the child pursuant to subsection (a), (b), or (c) of this section; (2) The man has made a written acknowledgment that he is the father of the child; (3) The man's name appears with his written consent on the birth certificate as the father of the child; (4) The mother and father intermarry prior to the birth of the child; (5) The mother and putative father attempted to marry each other prior to the birth of the child by a marriage solemnized in apparent compliance with law, although the attempted marriage is or could be declared invalid; or (6) The putative father is obligated to support the child under a written voluntary promise or by court order. (e) Property of an illegitimate person passes in accordance with the usual rules of intestate succession to his or her mother and his or her kindred of her blood and to his or her father and his or her kindred of his or her father's blood, provided that paternity has been established in accordance with subsection (d) of this section. (f) Nothing contained in this section shall extend the time within which a right of inheritance or a right to a succession may be asserted beyond the time provided by law relating to distribution and closing of decedents' estates or to the determination of heirship, or otherwise. Acts 1969, No. 303, § 11; 1979, No. 1015, §§ 1-3; A.S.A. 1947, §§ 61-141, 61-141.1.

(a) (1) If the parents of a child have lived together as man and wife and, before the birth of their child, have participated in a marriage ceremony in apparent compliance with the law of the state where the marriage ceremony was performed, though the attempted marriage is void, their child is deemed to be the legitimate child of both parents for all purposes of intestate succession. (2) A child born or conceived during a marriage is presumed to be the legitimate child of both spouses for the same purposes.

(1) If the parents of a child have lived together as man and wife and, before the birth of their child, have participated in a marriage ceremony in apparent compliance with the law of the state where the marriage ceremony was performed, though the attempted marriage is void, their child is deemed to be the legitimate child of both parents for all purposes of intestate succession.

(2) A child born or conceived during a marriage is presumed to be the legitimate child of both spouses for the same purposes.

(b) If a man has a child or children by a woman, and afterward intermarries with her and recognizes the child or children to be his, the child or children shall be deemed and considered legitimate.

(c) Any child conceived following artificial insemination of a married woman with the consent of her husband shall be treated as their child for all purposes of intestate succession. Consent of the husband is presumed unless the contrary is shown by clear and convincing evidence.

(d) An illegitimate child or his or her descendants may inherit real or personal property in the same manner as a legitimate child from the child's mother or her blood kindred. The child may inherit real or personal property from his or her father or from his or her father's blood kindred, provided that at least one (1) of the following conditions is satisfied and an action is commenced or claim asserted against the estate of the father in a court of competent jurisdiction within one hundred eighty (180) days of the death of the father: (1) A court of competent jurisdiction has established the paternity of the child or has determined the legitimacy of the child pursuant to subsection (a), (b), or (c) of this section; (2) The man has made a written acknowledgment that he is the father of the child; (3) The man's name appears with his written consent on the birth certificate as the father of the child; (4) The mother and father intermarry prior to the birth of the child; (5) The mother and putative father attempted to marry each other prior to the birth of the child by a marriage solemnized in apparent compliance with law, although the attempted marriage is or could be declared invalid; or (6) The putative father is obligated to support the child under a written voluntary promise or by court order.

(1) A court of competent jurisdiction has established the paternity of the child or has determined the legitimacy of the child pursuant to subsection (a), (b), or (c) of this section;

(2) The man has made a written acknowledgment that he is the father of the child;

(3) The man's name appears with his written consent on the birth certificate as the father of the child;

(4) The mother and father intermarry prior to the birth of the child;

(5) The mother and putative father attempted to marry each other prior to the birth of the child by a marriage solemnized in apparent compliance with law, although the attempted marriage is or could be declared invalid; or

(6) The putative father is obligated to support the child under a written voluntary promise or by court order.

(e) Property of an illegitimate person passes in accordance with the usual rules of intestate succession to his or her mother and his or her kindred of her blood and to his or her father and his or her kindred of his or her father's blood, provided that paternity has been established in accordance with subsection (d) of this section.

(f) Nothing contained in this section shall extend the time within which a right of inheritance or a right to a succession may be asserted beyond the time provided by law relating to distribution and closing of decedents' estates or to the determination of heirship, or otherwise.

Acts 1969, No. 303, § 11; 1979, No. 1015, §§ 1-3; A.S.A. 1947, §§ 61-141, 61-141.1.
Ark. Code Ann. § 28-66-121 — AR Code / Title 28 / Chapter 66 / Section 28-66-121
Severability
Status: in_force

If any provision of this chapter or application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable. Acts 1943, No. 177, § 21; A.S.A. 1947, § 57-520n.

If any provision of this chapter or application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.

Acts 1943, No. 177, § 21; A.S.A. 1947, § 57-520n.
Ark. Code Ann. § 28-72-405 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-405
Transfer to custodial trustee by fiduciary or obligor - Facility of payment
Status: in_force

(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 28-72-403 , a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court. (b) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section. Acts 1991, No. 273, § 5.

(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 28-72-403 , a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.

(b) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

Acts 1991, No. 273, § 5.
Ark. Code Ann. § 28-72-301 — AR Code / Title 28 / Chapter 72 / Subchapter 3 / Section 28-72-301
Definition
Status: in_force

As used in this subchapter, unless the context otherwise requires, all references to "the code" are to the Internal Revenue Code of 1954, and all references to specific sections of the code include future amendments to the sections and corresponding provisions of any future federal tax laws. Acts 1971, No. 728, § 3; A.S.A. 1947, § 58-119.

As used in this subchapter, unless the context otherwise requires, all references to "the code" are to the Internal Revenue Code of 1954, and all references to specific sections of the code include future amendments to the sections and corresponding provisions of any future federal tax laws.

Acts 1971, No. 728, § 3; A.S.A. 1947, § 58-119.
Ark. Code Ann. § 28-40-103 — AR Code / Title 28 / Chapter 40 / Subchapter 1 / Section 28-40-103
Time limit for probate and administration
Status: in_force

(a) No will shall be admitted to probate and no administration shall be granted unless application is made to the court for admission to probate within five (5) years from the death of the decedent, subject only to the exceptions stated in this section. (b) This section shall not affect the availability of appropriate equitable relief against a person who has fraudulently concealed or participated in the concealment of a will. (c) (1) Insofar only as it relates to real property in Arkansas, or any interest in real property, the will of a nonresident which has been admitted to probate in another appropriate jurisdiction may be admitted to probate in this state without regard to the time limit imposed by this section. (2) However, rights and interests in the real property which, after the death of the testator if it is assumed that he or she died intestate, have been acquired by purchase, as evidenced by one (1) or more appropriate instruments which have been properly recorded in the office of the recorder of the county in which the real property is situated and which would be valid and effective had the decedent died intestate, shall not be adversely affected by the probate of the will in this state after the expiration of the time limit imposed by subsection (a) of this section. Acts 1949, No. 140, § 64; 1963, No. 166, § 1; A.S.A. 1947, § 62-2125.

(a) No will shall be admitted to probate and no administration shall be granted unless application is made to the court for admission to probate within five (5) years from the death of the decedent, subject only to the exceptions stated in this section.

(b) This section shall not affect the availability of appropriate equitable relief against a person who has fraudulently concealed or participated in the concealment of a will.

(c) (1) Insofar only as it relates to real property in Arkansas, or any interest in real property, the will of a nonresident which has been admitted to probate in another appropriate jurisdiction may be admitted to probate in this state without regard to the time limit imposed by this section. (2) However, rights and interests in the real property which, after the death of the testator if it is assumed that he or she died intestate, have been acquired by purchase, as evidenced by one (1) or more appropriate instruments which have been properly recorded in the office of the recorder of the county in which the real property is situated and which would be valid and effective had the decedent died intestate, shall not be adversely affected by the probate of the will in this state after the expiration of the time limit imposed by subsection (a) of this section.

(1) Insofar only as it relates to real property in Arkansas, or any interest in real property, the will of a nonresident which has been admitted to probate in another appropriate jurisdiction may be admitted to probate in this state without regard to the time limit imposed by this section.

(2) However, rights and interests in the real property which, after the death of the testator if it is assumed that he or she died intestate, have been acquired by purchase, as evidenced by one (1) or more appropriate instruments which have been properly recorded in the office of the recorder of the county in which the real property is situated and which would be valid and effective had the decedent died intestate, shall not be adversely affected by the probate of the will in this state after the expiration of the time limit imposed by subsection (a) of this section.

Acts 1949, No. 140, § 64; 1963, No. 166, § 1; A.S.A. 1947, § 62-2125.
Ark. Code Ann. § 28-10-206 — AR Code / Title 28 / Chapter 10 / Subchapter 2 / Section 28-10-206
Exceptions
Status: in_force

This subchapter does not apply if: (1) the governing instrument contains language dealing explicitly with simultaneous deaths or deaths in a common disaster and that language is operable under the facts of the case; (2) the governing instrument expressly indicates that an individual is not required to survive an event, including the death of another individual, by any specified period or expressly requires the individual to survive the event for a specified period; (3) the imposition of 120-hour requirement of survival would cause a nonvested property interest or a power of appointment to be invalid under any rule against perpetuities; or (4) the application of a 120-hour requirement of survival to multiple governing instruments would result in an unintended failure or duplication of a disposition. Acts 2005, No. 74, § 1; 2007, No. 240, § 4.

This subchapter does not apply if:

(1) the governing instrument contains language dealing explicitly with simultaneous deaths or deaths in a common disaster and that language is operable under the facts of the case;

(2) the governing instrument expressly indicates that an individual is not required to survive an event, including the death of another individual, by any specified period or expressly requires the individual to survive the event for a specified period;

(3) the imposition of 120-hour requirement of survival would cause a nonvested property interest or a power of appointment to be invalid under any rule against perpetuities; or

(4) the application of a 120-hour requirement of survival to multiple governing instruments would result in an unintended failure or duplication of a disposition.

Acts 2005, No. 74, § 1; 2007, No. 240, § 4.
Ark. Code Ann. § 28-72-302 — AR Code / Title 28 / Chapter 72 / Subchapter 3 / Section 28-72-302
Amendment of trust instrument by operation of law - Exclusions
Status: in_force

(a) Notwithstanding any provision in the laws of this state or in the governing instrument to the contrary, except as provided in subsections (c) and (d) of this section, the governing instrument of each trust which is a private foundation as defined in section 509 of the Internal Revenue Code of 1954, including each nonexempt charitable trust as defined in section 4947(a)(1) of the code which is treated as a private foundation, and the governing instrument of each nonexempt split-interest trust as defined in section 4947(a)(2) of the code, but only to the extent that section 508(e) of the code is applicable to a nonexempt split-interest trust under section 4947(a)(2) of the code, shall be deemed to contain the following provisions: "The trust shall make distributions at such time and in such manner as not to become subject to the tax on undistributed income imposed by section 4942 of the Internal Revenue Code of 1954; the trust shall not engage in any act of self-dealing (as defined in section 4941(d) of the code) which would subject it to tax under section 4941 of the code; the trust shall not retain any excess business holdings (as defined in section 4943(c) of the code) which would subject it to tax under section 4943 of the code; the trust shall not make any investments in such manner as to incur tax liability under section 4944 of the code; and the trust shall not make any taxable expenditures (as defined in section 4945(d) of the code) which would subject it to tax under section 4945 of the code." (b) With respect to any such trust created prior to January 1, 1970, subsection (a) of this section shall apply only for its taxable years beginning on or after January 1, 1972. (c) The provisions of subsection (a) of this section shall not apply to any trust to the extent that a court of competent jurisdiction shall determine that the application would be contrary to the terms of the instrument governing the trust and that the terms may not properly be changed to conform to subsection (a) of this section. (d) The trustee of any trust described in subsection (a) of this section, with the consent of the trustor if he or she is then living and competent to give consent, without judicial proceedings, may amend the trust to expressly exclude the application of this section by executing a written amendment to the trust and filing a duplicate original of the amendment with the Attorney General, and upon filing of the amendment, subsection (a) of this section shall not apply to the trust. (e) Nothing contained herein shall impair the rights and powers of the courts, or any officer, agency, or department of this state, with respect to the trust. Acts 1971, No. 728, § 2; A.S.A. 1947, § 58-118.

(a) Notwithstanding any provision in the laws of this state or in the governing instrument to the contrary, except as provided in subsections (c) and (d) of this section, the governing instrument of each trust which is a private foundation as defined in section 509 of the Internal Revenue Code of 1954, including each nonexempt charitable trust as defined in section 4947(a)(1) of the code which is treated as a private foundation, and the governing instrument of each nonexempt split-interest trust as defined in section 4947(a)(2) of the code, but only to the extent that section 508(e) of the code is applicable to a nonexempt split-interest trust under section 4947(a)(2) of the code, shall be deemed to contain the following provisions: "The trust shall make distributions at such time and in such manner as not to become subject to the tax on undistributed income imposed by section 4942 of the Internal Revenue Code of 1954; the trust shall not engage in any act of self-dealing (as defined in section 4941(d) of the code) which would subject it to tax under section 4941 of the code; the trust shall not retain any excess business holdings (as defined in section 4943(c) of the code) which would subject it to tax under section 4943 of the code; the trust shall not make any investments in such manner as to incur tax liability under section 4944 of the code; and the trust shall not make any taxable expenditures (as defined in section 4945(d) of the code) which would subject it to tax under section 4945 of the code."

(b) With respect to any such trust created prior to January 1, 1970, subsection (a) of this section shall apply only for its taxable years beginning on or after January 1, 1972.

(c) The provisions of subsection (a) of this section shall not apply to any trust to the extent that a court of competent jurisdiction shall determine that the application would be contrary to the terms of the instrument governing the trust and that the terms may not properly be changed to conform to subsection (a) of this section.

(d) The trustee of any trust described in subsection (a) of this section, with the consent of the trustor if he or she is then living and competent to give consent, without judicial proceedings, may amend the trust to expressly exclude the application of this section by executing a written amendment to the trust and filing a duplicate original of the amendment with the Attorney General, and upon filing of the amendment, subsection (a) of this section shall not apply to the trust.

(e) Nothing contained herein shall impair the rights and powers of the courts, or any officer, agency, or department of this state, with respect to the trust.

Acts 1971, No. 728, § 2; A.S.A. 1947, § 58-118.
Ark. Code Ann. § 28-12-106 — AR Code / Title 28 / Chapter 12 / Section 28-12-106
[Repealed]
Status: repealed

Repealed by Act 2023, No. 582,§ 2, eff. 8/1/2023. Acts 1981, No. 660, § 6; A.S.A. 1947, § 61-406.

Repealed by Act 2023, No. 582,§ 2, eff. 8/1/2023.

Acts 1981, No. 660, § 6; A.S.A. 1947, § 61-406.
Ark. Code Ann. § 28-75-113 — AR Code / Title 28 / Chapter 28 / Section 28-75-113
Disclosure of other digital assets held in trust when trustee not original user
Status: in_force

Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose, to a trustee that is not an original user of an account, a catalogue of electronic communications sent or received by an original or successor user and stored, carried, or maintained by the custodian in an account of the trust and any digital assets, other than the content of electronic communications, in which the trust has a right or interest if the trustee gives the custodian: (1) a written request for disclosure in physical or electronic form; (2) a certified copy of the trust instrument or a certification of the trust under § 28-73-1013 ; (3) a certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and (4) if requested by the custodian: (A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or (B) evidence linking the account to the trust. Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.

Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose, to a trustee that is not an original user of an account, a catalogue of electronic communications sent or received by an original or successor user and stored, carried, or maintained by the custodian in an account of the trust and any digital assets, other than the content of electronic communications, in which the trust has a right or interest if the trustee gives the custodian:

(1) a written request for disclosure in physical or electronic form;

(2) a certified copy of the trust instrument or a certification of the trust under § 28-73-1013 ;

(3) a certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and

(4) if requested by the custodian: (A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or (B) evidence linking the account to the trust.

(A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or

(B) evidence linking the account to the trust.

Added by Act 2017, No. 886,§ 1, eff. 8/1/2017.
Ark. Code Ann. § 28-48-102 — AR Code / Title 28 / Chapter 48 / Subchapter 1 / Section 28-48-102
Letters - Issuance - Form
Status: in_force

(a) When a duly appointed personal representative has given such bond as may be required and the bond has been approved by the court or by the clerk, subject to confirmation by the court, or, if no bond is required, when the personal representative has filed with the clerk a written acceptance of his or her appointment, letters under the seal of the court shall be issued to him or her. (b) The letters shall be in substantially the following form: Click here to view form. (c) Letters of administration with will annexed, administration in succession, and special administration shall conform with this form with appropriate modifications. (d) (1) (A) Letters of administration are not necessary to empower the person appointed to act for the estate. (B) Letters of administration are for the purpose of notifying third parties that the appointment of an administrator has been made. (2) The order appointing the administrator empowers the administrator to act for the estate, and any act carried out under the authority of the order is valid. Amended by Act 2013, No. 1137,§ 1, eff. 8/16/2013. Acts 1949, No. 140, § 71; A.S.A. 1947, § 62-2202; Acts 2007, No. 438, § 1.

(a) When a duly appointed personal representative has given such bond as may be required and the bond has been approved by the court or by the clerk, subject to confirmation by the court, or, if no bond is required, when the personal representative has filed with the clerk a written acceptance of his or her appointment, letters under the seal of the court shall be issued to him or her.

(b) The letters shall be in substantially the following form: Click here to view form.

Click here to view form.

(c) Letters of administration with will annexed, administration in succession, and special administration shall conform with this form with appropriate modifications.

(d) (1) (A) Letters of administration are not necessary to empower the person appointed to act for the estate. (B) Letters of administration are for the purpose of notifying third parties that the appointment of an administrator has been made. (2) The order appointing the administrator empowers the administrator to act for the estate, and any act carried out under the authority of the order is valid.

(1) (A) Letters of administration are not necessary to empower the person appointed to act for the estate. (B) Letters of administration are for the purpose of notifying third parties that the appointment of an administrator has been made.

(A) Letters of administration are not necessary to empower the person appointed to act for the estate.

(B) Letters of administration are for the purpose of notifying third parties that the appointment of an administrator has been made.

(2) The order appointing the administrator empowers the administrator to act for the estate, and any act carried out under the authority of the order is valid.

Amended by Act 2013, No. 1137,§ 1, eff. 8/16/2013.

Acts 1949, No. 140, § 71; A.S.A. 1947, § 62-2202; Acts 2007, No. 438, § 1.

48_102_1 - Attachment
Ark. Code Ann. § 28-67-101 — AR Code / Title 28 / Chapter 67 / Section 28-67-101
Chapter cumulative
Status: in_force

The provisions of this chapter shall be cumulative to the Probate Code. Nothing in this chapter shall amend or repeal related statutes pertaining to the appointment of guardians of the estate of incompetents. Acts 1975, No. 372, § 10; A.S.A. 1947, § 57-709n.

The provisions of this chapter shall be cumulative to the Probate Code. Nothing in this chapter shall amend or repeal related statutes pertaining to the appointment of guardians of the estate of incompetents.

Acts 1975, No. 372, § 10; A.S.A. 1947, § 57-709n.
Ark. Code Ann. § 28-76-117 — AR Code / Title 28 / Chapter 76 / Section 28-76-117
Uniformity of application and construction
Status: in_force

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. Added by Act 2019, No. 1021,§ 5, eff. 1/1/2020.

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

Added by Act 2019, No. 1021,§ 5, eff. 1/1/2020.
Ark. Code Ann. § 28-39-407 — AR Code / Title 28 / Chapter 39 / Subchapter 4 / Section 28-39-407
Rights of children or issue - Limitations
Status: in_force

(a) Subsequently Born or Adopted Children. Whenever a child shall have been born to or adopted by a testator after the testator has made his or her will, and the testator shall die leaving the after-born or adopted child not mentioned or provided for in his or her will either specifically or as a member of a class, the testator shall be deemed to have died intestate with respect to the child. The child shall be entitled to recover from the devisees in proportion to the amounts of their respective shares, that portion of the estate which he or she would have inherited had there been no will. (b) Pretermitted Children. If, at the time of the execution of a will, there is a living child of the testator, or living child or issue of a deceased child of the testator, whom the testator shall omit to mention or provide for, either specifically or as a member of a class, the testator shall be deemed to have died intestate with respect to the child or issue. The child or issue shall be entitled to recover from the devisees in proportion to the amounts of their respective shares, that portion of the estate which he or she or they would have inherited had there been no will. Acts 1949, No. 140, § 39; A.S.A. 1947, § 60-507.

(a) Subsequently Born or Adopted Children. Whenever a child shall have been born to or adopted by a testator after the testator has made his or her will, and the testator shall die leaving the after-born or adopted child not mentioned or provided for in his or her will either specifically or as a member of a class, the testator shall be deemed to have died intestate with respect to the child. The child shall be entitled to recover from the devisees in proportion to the amounts of their respective shares, that portion of the estate which he or she would have inherited had there been no will.

(b) Pretermitted Children. If, at the time of the execution of a will, there is a living child of the testator, or living child or issue of a deceased child of the testator, whom the testator shall omit to mention or provide for, either specifically or as a member of a class, the testator shall be deemed to have died intestate with respect to the child or issue. The child or issue shall be entitled to recover from the devisees in proportion to the amounts of their respective shares, that portion of the estate which he or she or they would have inherited had there been no will.

Acts 1949, No. 140, § 39; A.S.A. 1947, § 60-507.
Ark. Code Ann. § 28-73-601 — AR Code / Title 28 / Chapter 73 / Subchapter 6 / Section 28-73-601
Capacity of settlor of revocable trust
Status: in_force

(a) The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. (b) Notwithstanding subsection (a), action taken by an agent under a power of attorney to create, amend, revoke, add property to a revocable trust, or direct the actions of a trustee of a revocable trust is valid if the: (1) power of attorney expressly grants the agent the authority to perform the action; and (2) settlor had the capacity to take the action at the time the power of attorney was executed. Amended by Act 2021, No. 804,§ 5, eff. 7/28/2021. Acts 2005, No. 1031, § 1.

(a) The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.

(b) Notwithstanding subsection (a), action taken by an agent under a power of attorney to create, amend, revoke, add property to a revocable trust, or direct the actions of a trustee of a revocable trust is valid if the: (1) power of attorney expressly grants the agent the authority to perform the action; and (2) settlor had the capacity to take the action at the time the power of attorney was executed.

(1) power of attorney expressly grants the agent the authority to perform the action; and

(2) settlor had the capacity to take the action at the time the power of attorney was executed.

Amended by Act 2021, No. 804,§ 5, eff. 7/28/2021.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-2-216 — AR Code / Title 28 / Chapter 2 / Subchapter 2 / Section 28-2-216
Minor, incompetent, or deceased beneficiary
Status: in_force

A guardian of the property or an executor or administrator of the estate of a minor, incompetent, or deceased beneficiary may, if the fiduciary deems it to be in the best interest of those concerned with the estate of the beneficiary and of those who will take the beneficiary's interest by virtue of the disclaimer and is not detrimental to the best interest of the beneficiary, with or without an order of the court having jurisdiction, shall execute and file a disclaimer on behalf of the beneficiary within the time and in the manner in which the beneficiary himself or herself could disclaim if he or she were living, of legal age, or competent. Acts 2003, No. 610, § 16.

A guardian of the property or an executor or administrator of the estate of a minor, incompetent, or deceased beneficiary may, if the fiduciary deems it to be in the best interest of those concerned with the estate of the beneficiary and of those who will take the beneficiary's interest by virtue of the disclaimer and is not detrimental to the best interest of the beneficiary, with or without an order of the court having jurisdiction, shall execute and file a disclaimer on behalf of the beneficiary within the time and in the manner in which the beneficiary himself or herself could disclaim if he or she were living, of legal age, or competent.

Acts 2003, No. 610, § 16.
Ark. Code Ann. § 28-72-712 — AR Code / Title 28 / Chapter 72 / Subchapter 7 / Section 28-72-712
Transfer of property to trust - Actions against advisers, settlors, and trustees - Limitations
Status: in_force

(a) A person may not bring an action with respect to a transfer of property to a spendthrift trust or domestic asset protection trust if the person: (1) Is a creditor when the transfer is made, unless the action is commenced within: (A) Two (2) years after the transfer is made; or (B) Six (6) months after the person discovers or reasonably should have discovered the transfer, whichever is later; or (2) Becomes a creditor after the transfer is made, unless the action is commenced within two (2) years after the transfer is made. (b) A person is deemed to have discovered a transfer under subsection (a) of this section at the time a public record is made of the transfer, including without limitation at the time of: (1) The conveyance of real property that is recorded in the office of the county recorder of the county in which the property is located; or (2) The filing of a financing statement under the Uniform Commercial Code, § 4-1-101 et seq. (c) (1) A creditor shall not be awarded a judgment in an action with respect to a transfer of property to a spendthrift trust or domestic asset protection trust unless the creditor proves by clear and convincing evidence that the transfer of property: (A) Was a fraudulent transfer under the Uniform Voidable Transactions Act, § 4-59-201 et seq.; or (B) Violates a legal obligation owed to the creditor under a contract or a valid court order that is legally enforceable by that creditor. (2) In the absence of clear and convincing evidence, the property transferred is not subject to the claims of the creditor. (3) Clear and convincing evidence: (A) That is established by a creditor showing that a transfer of property was fraudulent or wrongful does not constitute clear and convincing evidence as to any other creditor; and (B) Of a fraudulent or wrongful transfer of property as to a creditor shall not invalidate any other transfer of property. (d) (1) If property transferred to a spendthrift trust or domestic asset protection trust is conveyed to the settlor or to a beneficiary for the purpose of obtaining a loan secured by a mortgage or deed of trust on the property and is later reconveyed to the trust, for the purpose of bringing an action under subsection (a) of this section, the transfer is disregarded and the reconveyance relates back to the date the property was originally transferred to the trust. (2) The mortgage or deed of trust on the property shall be enforceable against the trust. (e) A person shall not be awarded a judgment in an action against an adviser to the settlor or trustee of a spendthrift trust or domestic asset protection trust unless the person proves by clear and convincing evidence that the adviser: (1) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and (2) Directly caused the damages suffered by the person. (f) (1) A person other than a beneficiary or settlor shall not be awarded a judgment in an action against a trustee of a spendthrift trust or domestic asset protection trust unless the person proves by clear and convincing evidence that the trustee: (A) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and (B) Directly caused the damages suffered by the person. (2) As used in this subsection,"trustee" includes a cotrustee and a predecessor trustee. (g) If more than one (1) transfer is made to a spendthrift trust or domestic asset protection trust: (1) The subsequent transfer to the spendthrift trust or domestic asset protection trust shall be disregarded for the purpose of determining whether a person may bring an action under subsection (a) of this section with respect to a prior transfer to the spendthrift trust or domestic asset protection trust; and (2) Any distribution to a beneficiary from the spendthrift trust or domestic asset protection trust shall be deemed to have been made from the most recent transfer made to the spendthrift trust or domestic asset protection trust. (h) Notwithstanding any other provision of law, no action of any kind, including without limitation an action to enforce a judgment entered by a court or other body having adjudicative authority, shall be brought at law or in equity against the trustee of a spendthrift trust or domestic asset protection trust if, as of the date the action is brought, an action by a creditor with respect to a transfer to the spendthrift trust or domestic asset protection trust would be barred pursuant to this section. (i) For purposes of this section, if a trustee exercises his or her discretion or authority to distribute trust income or principal to or for a beneficiary of the spendthrift trust or domestic asset protection trust, by appointing the property of the original spendthrift trust or domestic asset protection trust in favor of a second spendthrift trust or domestic asset protection trust for the benefit of one (1) or more of the beneficiaries under the Trustee Division of Trusts Act, § 28-69-701 et seq., the time of the transfer for purposes of this section shall be deemed to have occurred on the date the settlor of the original spendthrift trust or domestic asset protection trust transferred assets into the original spendthrift trust or domestic asset protection trust, regardless of whether the property of the original spendthrift trust or domestic asset protection trust may have been transferred to a second spendthrift trust or domestic asset protection trust. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.

(a) A person may not bring an action with respect to a transfer of property to a spendthrift trust or domestic asset protection trust if the person: (1) Is a creditor when the transfer is made, unless the action is commenced within: (A) Two (2) years after the transfer is made; or (B) Six (6) months after the person discovers or reasonably should have discovered the transfer, whichever is later; or (2) Becomes a creditor after the transfer is made, unless the action is commenced within two (2) years after the transfer is made.

(1) Is a creditor when the transfer is made, unless the action is commenced within: (A) Two (2) years after the transfer is made; or (B) Six (6) months after the person discovers or reasonably should have discovered the transfer, whichever is later; or

(A) Two (2) years after the transfer is made; or

(B) Six (6) months after the person discovers or reasonably should have discovered the transfer, whichever is later; or

(2) Becomes a creditor after the transfer is made, unless the action is commenced within two (2) years after the transfer is made.

(b) A person is deemed to have discovered a transfer under subsection (a) of this section at the time a public record is made of the transfer, including without limitation at the time of: (1) The conveyance of real property that is recorded in the office of the county recorder of the county in which the property is located; or (2) The filing of a financing statement under the Uniform Commercial Code, § 4-1-101 et seq.

(1) The conveyance of real property that is recorded in the office of the county recorder of the county in which the property is located; or

(2) The filing of a financing statement under the Uniform Commercial Code, § 4-1-101 et seq.

(c) (1) A creditor shall not be awarded a judgment in an action with respect to a transfer of property to a spendthrift trust or domestic asset protection trust unless the creditor proves by clear and convincing evidence that the transfer of property: (A) Was a fraudulent transfer under the Uniform Voidable Transactions Act, § 4-59-201 et seq.; or (B) Violates a legal obligation owed to the creditor under a contract or a valid court order that is legally enforceable by that creditor. (2) In the absence of clear and convincing evidence, the property transferred is not subject to the claims of the creditor. (3) Clear and convincing evidence: (A) That is established by a creditor showing that a transfer of property was fraudulent or wrongful does not constitute clear and convincing evidence as to any other creditor; and (B) Of a fraudulent or wrongful transfer of property as to a creditor shall not invalidate any other transfer of property.

(1) A creditor shall not be awarded a judgment in an action with respect to a transfer of property to a spendthrift trust or domestic asset protection trust unless the creditor proves by clear and convincing evidence that the transfer of property: (A) Was a fraudulent transfer under the Uniform Voidable Transactions Act, § 4-59-201 et seq.; or (B) Violates a legal obligation owed to the creditor under a contract or a valid court order that is legally enforceable by that creditor.

(A) Was a fraudulent transfer under the Uniform Voidable Transactions Act, § 4-59-201 et seq.; or

(B) Violates a legal obligation owed to the creditor under a contract or a valid court order that is legally enforceable by that creditor.

(2) In the absence of clear and convincing evidence, the property transferred is not subject to the claims of the creditor.

(3) Clear and convincing evidence: (A) That is established by a creditor showing that a transfer of property was fraudulent or wrongful does not constitute clear and convincing evidence as to any other creditor; and (B) Of a fraudulent or wrongful transfer of property as to a creditor shall not invalidate any other transfer of property.

(A) That is established by a creditor showing that a transfer of property was fraudulent or wrongful does not constitute clear and convincing evidence as to any other creditor; and

(B) Of a fraudulent or wrongful transfer of property as to a creditor shall not invalidate any other transfer of property.

(d) (1) If property transferred to a spendthrift trust or domestic asset protection trust is conveyed to the settlor or to a beneficiary for the purpose of obtaining a loan secured by a mortgage or deed of trust on the property and is later reconveyed to the trust, for the purpose of bringing an action under subsection (a) of this section, the transfer is disregarded and the reconveyance relates back to the date the property was originally transferred to the trust. (2) The mortgage or deed of trust on the property shall be enforceable against the trust.

(1) If property transferred to a spendthrift trust or domestic asset protection trust is conveyed to the settlor or to a beneficiary for the purpose of obtaining a loan secured by a mortgage or deed of trust on the property and is later reconveyed to the trust, for the purpose of bringing an action under subsection (a) of this section, the transfer is disregarded and the reconveyance relates back to the date the property was originally transferred to the trust.

(2) The mortgage or deed of trust on the property shall be enforceable against the trust.

(e) A person shall not be awarded a judgment in an action against an adviser to the settlor or trustee of a spendthrift trust or domestic asset protection trust unless the person proves by clear and convincing evidence that the adviser: (1) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and (2) Directly caused the damages suffered by the person.

(1) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and

(2) Directly caused the damages suffered by the person.

(f) (1) A person other than a beneficiary or settlor shall not be awarded a judgment in an action against a trustee of a spendthrift trust or domestic asset protection trust unless the person proves by clear and convincing evidence that the trustee: (A) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and (B) Directly caused the damages suffered by the person. (2) As used in this subsection,"trustee" includes a cotrustee and a predecessor trustee.

(1) A person other than a beneficiary or settlor shall not be awarded a judgment in an action against a trustee of a spendthrift trust or domestic asset protection trust unless the person proves by clear and convincing evidence that the trustee: (A) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and (B) Directly caused the damages suffered by the person.

(A) Acted knowingly and in bad faith in violation of the laws of the State of Arkansas; and

(B) Directly caused the damages suffered by the person.

(2) As used in this subsection,"trustee" includes a cotrustee and a predecessor trustee.

(g) If more than one (1) transfer is made to a spendthrift trust or domestic asset protection trust: (1) The subsequent transfer to the spendthrift trust or domestic asset protection trust shall be disregarded for the purpose of determining whether a person may bring an action under subsection (a) of this section with respect to a prior transfer to the spendthrift trust or domestic asset protection trust; and (2) Any distribution to a beneficiary from the spendthrift trust or domestic asset protection trust shall be deemed to have been made from the most recent transfer made to the spendthrift trust or domestic asset protection trust.

(1) The subsequent transfer to the spendthrift trust or domestic asset protection trust shall be disregarded for the purpose of determining whether a person may bring an action under subsection (a) of this section with respect to a prior transfer to the spendthrift trust or domestic asset protection trust; and

(2) Any distribution to a beneficiary from the spendthrift trust or domestic asset protection trust shall be deemed to have been made from the most recent transfer made to the spendthrift trust or domestic asset protection trust.

(h) Notwithstanding any other provision of law, no action of any kind, including without limitation an action to enforce a judgment entered by a court or other body having adjudicative authority, shall be brought at law or in equity against the trustee of a spendthrift trust or domestic asset protection trust if, as of the date the action is brought, an action by a creditor with respect to a transfer to the spendthrift trust or domestic asset protection trust would be barred pursuant to this section.

(i) For purposes of this section, if a trustee exercises his or her discretion or authority to distribute trust income or principal to or for a beneficiary of the spendthrift trust or domestic asset protection trust, by appointing the property of the original spendthrift trust or domestic asset protection trust in favor of a second spendthrift trust or domestic asset protection trust for the benefit of one (1) or more of the beneficiaries under the Trustee Division of Trusts Act, § 28-69-701 et seq., the time of the transfer for purposes of this section shall be deemed to have occurred on the date the settlor of the original spendthrift trust or domestic asset protection trust transferred assets into the original spendthrift trust or domestic asset protection trust, regardless of whether the property of the original spendthrift trust or domestic asset protection trust may have been transferred to a second spendthrift trust or domestic asset protection trust.

Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.