Articles Related to Tag: trust litigation

In Arkansas, probate is the legal process by which the property and assets owned by a deceased person individually, without any joint ownership or joint rights of survivorship, known as probate assets are administered by the Court either through a Last Will and Testament  or through the Arkansas laws of intestacy, the probate assets are accounted for, inventoried, and eventually distribute

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.

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.

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.