Updated August 02, 2023
The Arkansas revocable living trust is an entity into which a person places assets in order to avoid the Arkansas probate process after they die. The Grantor (creator) chooses a Trustee to manage all assets within the trust and distribute them to the Beneficiaries once the Grantor dies. The Grantor may choose to appoint themselves Trustee, which is not the case with an irrevocable living trust. A living trust also helps protect the assets if the Grantor becomes mentally incapacitated as the Trustee (or Successor Trustee) maintains control instead of a court-appointed conservator. Avoiding probate court after death will allow the Trustee to distribute the assets to the named Beneficiaries privately and allows for an often less time-consuming and less expensive.
Laws – Title 28, Subtitle 5, Chapter 73, Subchapter 6 (Revocable Trusts)
How to Write
Step 1 – Download in PDF (.pdf), Microsoft Word (.docx), or Open Document Text (odt).
Step 2 – At the top of the first page of the Arkansas revocable living trust form, enter the name of the Grantor and the date. Below that, enter again the Grantor’s name and include their mailing address. Next, enter the Trustee’s name and mailing address. Under Article 1, type in the name of the trust.
Step 3 – Section A of Article 4 should include a list of names and the corresponding property to which they are entitled.
Step 4 – Section B of Article 4 pertains to the Grantor’s personal property. Either the Beneficiaries can be chosen to inherit the personal property or a specific individual otherwise not mentioned in the Trust. If the latter option has been chosen, enter the individual’s name, address, and the last 4 digits of their Social Security number or Tax ID number.
Step 5 – Complete the next section of Article 4 labeled “Pet Trust” by entering the Pet Caretaker’s name and address. The Pet Caretaker shall assume all responsibilities relating to the care of the Grantor’s pets after the Grantor dies. A second name and address must be provided in the event the first Pet Caretaker cannot take over the pet caretaking duties.
Step 6 – Continued under Section C of Article 4 is part (ii), wherein a dollar amount must be entered to establish the amount of funding the Pet Caretaker shall receive. If the Grantor does not wish to provide funding for the Pet Caretaker, select the second checkbox.
Step 7 – The third and last part of Section C demands that an individual is selected to ensure the Pet Caretaker is using the provided funds solely for the care of the Grantor’s pet(s). Enter that person’s name and address.
Step 8 – Still under Article 4, Section D asks for the names, Social Security numbers, and addresses of the Beneficiaries.
Step 9 – The next section to be filled out is Article 10, which can be found on page 11 of the form. At the bottom of this Article, enter a number and select either the “Months” or “Years” checkbox. This elected amount of time will represent how often a Beneficiary can ask for a report of the property in the Trust.
Step 10 – Scroll down to Article 13 and type in the name and address of the individual the Grantor wishes to appoint as Successor Trustee. The name and address of a 2nd Successor Trustee can be included below that.
Step 11 – Locate Section I within Article 13 and select the type of compensation the Trustee shall receive. If no compensation is to be arranged, select the first checkbox. Select the second checkbox if the Trustee is to be granted a reasonable fee from the Trust.
Step 12 – Next, a number of days must be decided and entered into the space provided under Article 15. This amount of time will represent how long an individual must survive after the Grantor’s death in order to receive any assets within the Trust.
Step 13 – At the bottom of page 15, the Grantor’s marital status must be divulged. Select either the “Is Not Married” or “Is Married” checkbox. If the second checkbox was selected, enter the name of the Grantor’s spouse.
Step 14 – The names of the Grantor’s children must be included in the Trust. This can be done by entering the children’s names in the space provided under Article 18.
Step 15 – Aside from the individuals included in the Trust, there is a space provided for individuals or organizations that the Grantor wants to specifically exclude from the Trust. Under Article 21, enter all the names of the individuals/organizations that are not to be included in the Trust.
Step 16 – Article 21, labeled “Power to Alter, Amend or Revoke,” must be signed by the Grantor, the Trustee, and the Successor Trustee. Below the signature, include printed names and the date.
Step 17 – The second to last step is to fill out the Self-Proving Affidavit. The affidavit, found on page 18, must include the State and County as well as the signature of the Grantor, the Trustee, the Successor Trustee, the 2nd Successor Trustee, and 2 witnesses. The date it was signed must be included to the right of each signature. The bottom section is reserved for the notary public.
Step 18 – Lastly, complete Attachment A, found on the last page of the revocable living trust form, by creating a list of all assets that have been placed in the Trust.
