§ 28-69-704. Exercise of authority by trustee
(a) A trustee may exercise the authority granted in this subchapter without procuring any judicial authorization or approval. (b) A trustee may exercise the authority granted in this subchapter to divide both funded and unfunded trusts, provided, however, that: (1) An unfunded testamentary trust may be divided only after the will establishing the trust has […]
§ 28-69-205. Investment in obligations of certain banks authorized
Notwithstanding any other provision of law, any funds, including capital, belonging to or under the control of any bank, trust company, savings bank, or savings institution and any funds belonging to or under the control of any administrators, executors, trustees, fiduciaries, guardians, or curators of the estates of minors or insane persons may be invested […]
§ 28-69-705. Effect of exercise of authority
If a trustee divides a trust into separate trusts under this subchapter, the terms of the separate trusts need not be identical but must provide for the same succession of interests and beneficiaries as are provided in the original trust. Differing tax elections may be made for each of the separate trusts.
§ 28-69-206. Deposit of funds — Collateral for uninsured deposit
An Arkansas-chartered bank or savings and loan association that holds as trustee funds awaiting investment or distribution, if not prohibited by the instrument or judgment creating the trust, may deposit the funds in the commercial department of the bank or savings and loan association. However, if the amount of the deposit exceeds the Federal Deposit […]
§ 28-69-207. Services provided by affiliates
Any state bank, national bank, or trust company qualified to act as a fiduciary in this state, is hereby specifically authorized to utilize its respective affiliates to provide services for any trust or estate for which the financial institution or trust company acts as a trustee or other fiduciary, provided the financial institution believes, in […]
§ 28-69-301. Definitions
As used in this subchapter: (1) “Environmental law” means any federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment or human health; (2) “Estate” means the estate of the decedent if by reference thereto a provision has been made applicable to the executor or executors of a will and […]
§ 28-69-302. Power of court over fiduciary unaffected
Nothing contained in this subchapter shall be construed to limit the power of a court of competent jurisdiction to prohibit a fiduciary from taking any action or to restrain a fiduciary in the taking of such an action, notwithstanding the authorizations or powers vested in the fiduciary by any written instrument wherein all or any […]
§ 28-69-303. Incorporation by reference authorized — Effect
(a) By a clearly expressed intention of the testator or settlor so to do contained in a will or in an instrument in writing whereby a trust estate is created inter vivos, the language contained in the introductory paragraph of § 28-69-304 and in any one (1) or more of the subdivisions of that section […]
§ 28-69-304. Powers which may be incorporated
Without diminution or restriction of the powers vested in him or her by law, or elsewhere in this instrument, and subject to all other provisions of this instrument, the fiduciary, without the necessity of procuring any judicial authorization therefor, or approval thereof, shall be vested with, and in the application of his or her best […]
§ 28-69-305. Compliance with environmental law
(a) The fiduciary shall be entitled to charge the cost of any inspection, review, abatement, response, cleanup, or remedial action authorized herein in compliance with environmental law against the income or principal of the trust or estate. (b) A fiduciary shall not be personally liable to any beneficiary or other party for any decrease in […]