Public-domain · open source
OpenJurist

Ark. Code Ann. § 28-73-412

Modification or termination because of unanticipated circumstances or inability to administer trust effectively

Known as the Arkansas Trust Code

The act spans §§ 28–28 (103 sections).

Applied in 1 court decision — leading case 2012 Ark. App. 381 - In re Ruby G. Owen Trust (2012)

Most recently applied in 2012 Ark. App. 381 - In re Ruby G. Owen Trust (June 2012)

Acts 2005, No. 1031, § 1.

(1) In addition to the procedure available under § 28-69-401 et seq., a court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.

(2) A court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.

(3) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.