Title 28 — — Appendix Administrative Order Number 12 — Official Probate Forms

(a) To the extent a fiduciary does not account for receipts from the sale of timber and related products as a business under § 28-77-403, the fiduciary shall allocate the net receipts:(1) to income, to the extent the amount of timber cut from the land does not exceed the rate of …

(a) If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with suffi…

(a) In this section, “derivative” means a contract, instrument, other arrangement, or combination of contracts, instruments, or other arrangements, the value, rights, and obligations of which are, in whole or in part, dependent on or derived from an underlying tangible or intangi…

(a) Except as otherwise provided in subsection (b), a fiduciary shall allocate to income a receipt from or related to an asset-backed security, to the extent the payor identifies the payment as being from interest or other current return, and to principal the balance of the recei…

A fiduciary shall allocate receipts from or related to a financial instrument or arrangement not otherwise addressed by this chapter. The allocation must be consistent with §§ 28-77-414 and 28-77-415.

(1) Subject to § 28-77-504, and except as otherwise provided in § 28-77-601(c)(2) or § 28-77-601(c)(3), a fiduciary shall disburse from income:(1) one-half of:(A) the regular compensation of the fiduciary and any person providing investment advisory, custodial, or other services …

(a) Subject to § 28-77-505, and except as otherwise provided in § 28-77-601(c)(2), a fiduciary shall disburse from principal:(1) the balance of the disbursements described in § 28-77-501(1) and § 28-77-501(3), after application of § 28-77-501(2);(2) the fiduciary's compensation c…

(a) In this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year. (b) A fiduciary may transfer to principal a reasonable amount of the net cash receipts from …

(a) If a fiduciary makes or expects to make an income disbursement described in subsection (b), the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income. (b) To the extent the fiduciary has not been and does n…

(a) If a fiduciary makes or expects to make a principal disbursement described in subsection (b), the fiduciary may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or provide a reserve for future principal disbursem…

(a) A tax required to be paid by a fiduciary which is based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a fiduciary which is based on receipts allocated to principal must be paid from principal, even if the tax is called an income ta…

(a) A fiduciary may make an adjustment between income and principal to offset the shifting of economic interests or tax benefits between current income beneficiaries and successor beneficiaries which arises from:(1) an election or decision the fiduciary makes regarding a tax matt…

(a) This section applies when:(1) the death of an individual results in the creation of an estate or trust; or(2) an income interest in a trust terminates, whether the trust continues or is distributed. (1) the death of an individual results in the creation of an estate or trust;…

(a) Except to the extent § 28-77-301 et seq. applies for a beneficiary that is a trust, each beneficiary described in § 28-77-601(d) is entitled to receive a share of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as …

(a) An income beneficiary is entitled to net income in accordance with the terms of the trust from the date an income interest begins. The income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:(…

(a) A fiduciary shall allocate an income receipt or disbursement, other than a receipt to which § 28-77-601(b) applies, to principal if its due date occurs before the date on which:(1) for an estate, the decedent died; or(2) for a trust or successive interest, an income interest …

(a) In this section, “undistributed income” means net income received on or before the date on which an income interest ends. The term does not include an item of income or expense which is due or accrued or net income that has been added or is required to be added to principal u…

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.

This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of t…

This chapter applies to a trust or estate existing or created on or after January 1, 2022, except as otherwise expressly provided in the terms of the trust or this chapter.

This chapter may be cited as the Uniform Trust Decanting Act.

(1) In this chapter:(1) “Appointive property” means the property or property interest subject to a power of appointment;(2) “Ascertainable standard” means a standard relating to an individual's health, education, support, or maintenance within the meaning of 26 U.S.C. Section 204…

(a) Except as otherwise provided in subsections (b) and (c) of this section, this chapter applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest. (b) This chapter does not apply to a…

(a) In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust. (b) This chapter does not create or imply a duty to exercise the decanting power or to i…

(1) This chapter applies to a trust created before, on, or after January 1, 2026, which:(1) Has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or(2) Provides by its trust instrument th…

A trustee or other person that reasonably relies on the validity of a distribution of part or all of the property of a trust to another trust, or a modification of a trust, under this chapter, law of this state other than this chapter, or the law of another jurisdiction is not li…

(a) In this section, a notice period begins on the day notice is given under subsection (c) of this section and ends fifty-nine (59) days after the day notice is given. (b) Except as otherwise provided in this chapter, an authorized fiduciary may exercise the decanting power with…

(a) Notice to a person with authority to represent and bind another person under a first-trust instrument or § 28-73-301 et seq., has the same effect as notice given directly to the person represented. (b) Consent of or waiver by a person with authority to represent and bind anot…

(a) On application of an authorized fiduciary, a person entitled to notice under § 28-78-107(c), a beneficiary, or with respect to a charitable interest the Attorney General or other person that has standing to enforce the charitable interest, the court may:(1) Provide instructio…

(a) An exercise of the decanting power shall be made in a record signed by an authorized fiduciary. (b) The signed record shall, directly or by reference to the notice required by § 28-78-107, identify the first trust and the second trust or trusts and state the property of the f…

(a) In this section:(1) (A) “Noncontingent right” means a right that is not subject to the exercise of discretion or the occurrence of a specified event that is not certain to occur.(B) “Noncontingent right” does not mean a right held by a beneficiary if a person has discretion t…

(a) In this section, “limited distributive discretion” means a discretionary power of distribution that is limited to an ascertainable standard or a reasonably definite standard. (b) An authorized fiduciary that has limited distributive discretion over the principal of the first …

(a) In this section:(1) “Beneficiary with a disability” means a beneficiary of a first trust who the special-needs fiduciary believes may qualify for governmental benefits based on disability, whether or not the beneficiary currently receives those benefits or is an individual wh…

(a) In this section:(1) “Determinable charitable interest” means a charitable interest that is a right to a mandatory distribution currently, periodically, on the occurrence of a specified event, or after the passage of a specified time and which is unconditional or will be held …

(a) An authorized fiduciary shall not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of:(1) The decanting power; or(2) A power granted by state law to the fiduciary to distribute part or all of the principal of the trust to anot…

(a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:(1) All qualified beneficiaries of the second trust consent to t…

(a) Except as otherwise provided in this section, a second-trust instrument shall not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument. (b) A second-trust instrument may provide for indemnification of an author…

(1) An authorized fiduciary shall not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless the:(1) Person holding the power consents to the modification in a signed record and the mo…

(a) In this section:(1) “Grantor trust” means a trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections 671 through 677, as they existed on January 1, 2025, or 26 U.S.C. Section 679, as it existed on January 1, 2025;(2) “Internal Revenue Code…

(a) Subject to subsection (b) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust. (b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second tr…

An authorized fiduciary may exercise the decanting power whether or not under the first trust's discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.

(a) If exercise of the decanting power would be effective under this chapter except that the second-trust instrument in part does not comply with this chapter, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust a…

(a) In this section:(1) “Animal trust” means a trust or an interest in a trust created to provide for the care of one or more animals; and(2) “Protector” means a person appointed in an animal trust to enforce the trust on behalf of the animal or, if no such person is appointed in…

A reference in the Arkansas Trust Code, § 28-73-101 et seq., to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust.

(a) For purposes of law of this state other than this chapter and subject to subsection (b) of this section, a settlor of a first trust is deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the d…

(a) Except as otherwise provided in subsection (c) of this section, if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acqu…

A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.

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

This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of t…

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provision…