The appointed Trustee of a Trust is obligated to perform their duties within the prescriptions and confines of Arkansas law including the Arkansas Trust Code and the recently enacted version of the Uniform Directed Trust Act. As a general discussion, a Trustee is obligated to adhere to his or her fiduciary duties as specified in the actual Trust as well as the duty to administer the Trust in good faith and in accordance with its terms, purposes, and in the interests of the beneficiaries of the Trust, to refrain from self-dealing, and to refrain from engaging in the breach of a trust.
In Arkansas, the Trustee must also act with a fiduciary duty of loyalty whereby the Trustee must administer the Trust solely in the interests of the beneficiaries. The Trustee must also administer the Trust with impartiality between multiple beneficiaries. The Trustee must administer the Trust as a prudent person would when considering the purposes, terms, requirements, and other circumstances of the Trust. Issues of breach of fiduciary duties by a Trustee is a significant point of litigation in Arkansas trusts and estates.
Located in Batesville, Melbourne, and Heber Springs, Arkansas, and serving all of Arkansas, Reeves Law Firm stands ready to handle any civil, estate, family law, guardianship, personal injury, probate, or any other litigation matters that may arise.
Reeves Law Firm primarily serves Independence County (Batesville), Jackson County (Newport), Sharp County (Ash Flat, Highland, Cherokee Village), Lawrence County (Walnut Ridge), Cleburne County (Heber Springs, Greers Ferry, Fairfield Bay), Izard County (Melbourne), Stone County (Mountain View), White County (Searcy), and Baxter County (Mountain Home).
Give us a call in Batesville, Arkansas, at (870) 793-0021
Give us a call in Heber Springs, Arkansas, at (501) 302-8383
Give us a call in Melbourne, Arkansas, at (870) 291-9374
Lawyers in Arkansas – Expect the Best. Expect Results.