Arkansas Statutes
§ 28-72-603 — Death of settlors
Arkansas·Title 28
(a)After the death of both settlors, all property held by the trustee of the qualified spousal trust shall be distributed as directed by the then-current terms of the governing instrument of the qualified spousal trust.
(b)After the death of the first settlor, if immediately before his or her death the predeceased settlor's interest in the qualified spousal trust was held in a separate share, the property held in the predeceased settlor's separate share may pass into an irrevocable trust for the benefit of the surviving settlor as provided by the terms of the governing instrument, including without limitation a spendthrift provision.
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Legislative History
Added by Act 2019, No. 1047,§ 1, eff. 7/24/2019.
Nearby Sections
15
§ 28-1-101
Title§ 28-1-102
Definitions§ 28-1-103
Effect of code§ 28-1-104
Probate proceedings§ 28-1-106
Referees and probate clerks§ 28-1-108
Records§ 28-1-109
Petition - Verification§ 28-1-110
Filing objections to petition§ 28-1-111
Guardians and attorneys ad litem§ 28-1-112
Notice - Service - Proof - Costs§ 28-1-113
Waiver of notice§ 28-1-115
Vacation and modification of orders§ 28-1-116
Appeals§ 28-1-117
Use of certified mail permitted§ 28-1-118
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