Articles Related to Tag: litigation

Introduction

The misuse or misappropriation of trust assets by a Trustee is not uncommon unfortunately. Too many Trustees succumb to the temptation to use trust assets to benefit themselves or their family members in violation of the terms of the Trust and in violation of Arkansas law.

Generally, the statute of limitations for opening probate in Arkansas is five (5) years after the date of death. However, there are certain exceptions that may toll the running of statute of limitations under Arkansas law such as fraudulent concealment of a Will or participation in the concealment of a Will.

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.

One of the most common misconceptions about probate and inheritance law is the misguided assumption that when a person passes away without a Will, that because they were married at the time of their passing the surviving spouse will get all or most of their estate. This is FAR from the truth, and this is one reason why a Will or a Trust is so important. 

Yes. If the decedent died with probate assets (defined in as separate blog) and there is a Last Will and Testament, then that Last Will and Testament MUST be admitted to the Arkansas probate court and the probate court must oversee the administration of that estate and that Last Will and Testament.

This discussion will describe the most common situations that arise which necessitate the intervention of the Court and often times significant litigation involving the misbehavior of the Administrator, Executor, or Trustee. 

In short, yes.

This is a general explanation of the primary steps of analysis of a standard Arkansas probate. This process can vary greatly depending upon many factors and your circumstances may be different, but generally, this is the process you can expect.