Arkansas Statutes
§ 28-72-708 — Legal estate of beneficiary in corpus
Arkansas·Title 28
(a)A beneficiary of a spendthrift trust or domestic asset protection trust has no legal estate in the capital, principal, or corpus of the trust estate unless under the terms of the trust the beneficiary or a person deriving title from the beneficiary is entitled to have it conveyed or transferred to him or her immediately or after a term of years or after a life in being.
(b)The income from the corpus is not to be paid to a specific beneficiary or any other beneficiary until any applicable term of years or life passes as described in subsection (a) of this section.
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Legislative History
Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.
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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