™Your Policy Risk Impact Agent
41 chapters · 837 sections in this title.
Ark. Code Ann. § 28-72-704 Powers of settlor
0.4K chars
(a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or…
Ark. Code Ann. § 28-72-705 Beneficiaries — Named in writing — Provision for support — Income
2.5K chars
(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 …
Ark. Code Ann. § 28-72-706 Discretion of trustee
1.6K chars
(a) The trustee's discretionary power is absolute, regardless of whether a valid provision for the accumulation of trust income is made or if the provision relates to the trust income from real or personal property, in all cases where the creator of a spendthrift trust or domesti…
Ark. Code Ann. § 28-72-707 Restraints on alienation — Exclusive jurisdiction of court
3.9K chars
(a) (1) A spendthrift trust or domestic asset protection trust restrains and prohibits the assignment, alienation, acceleration, and anticipation of any interest of the beneficiary under the trust by the voluntary or involuntary act of the beneficiary, by operation of law, or any…