Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.
Ark. Code Ann. § 28-73-506
Overdue distribution
Known as the Arkansas Trust Code
The act spans §§ 28–28 (103 sections).
Applied in 2 court decisions — leading case Wetzel v. Regions Bank (In Re Reagan) (2010)
Most recently applied in In re Caubble (February 2014)
Acts 2005, No. 1031, § 1.
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.