Amending/Revoking – Unless a trust document specifically states it is irrevocable, a trust can be revoked or amended.^[2]

Bond Requirement – A trustee is not required to obtain a bond unless the trust requires it or it is requested by a court.^[3]

Duty to Inform – A trustee must inform the beneficiaries about the trust administration and information necessary to protect their assets. In addition, a trustee must inform beneficiaries within 60 days of accepting the trustee position and give their name, address, and phone number.^[4]

Evidence of Oral Trust – An oral trust can be created with “clear and convincing evidence.”^[5]

Penalty for Contesting a Trust – If there is language in a trust document that prohibits contesting the terms of a trust, such terms are unenforceable if probable cause exists for such a contest.^[6]

Pet Trust – A trust is legally made for a pet to care for an animal. A person interested in the animal’s welfare can petition a court to confirm that proper care is being administered and remove the pet trustee if necessary.^[7]

Trustee’s Compensation – Unless a trust specifically mentions the trustee’s compensation, a trustee is entitled to “reasonable” compensation given the circumstances of the trust.^[8]

Trustee’s Duties – The trustee is responsible for administering the trust^[9] and solely in the interest of the beneficiaries.^[10]

Trustee’s Powers – Upon appointment and without permission from a 3rd party, a trustee has the authority to exercise the powers granted to them under the trust document.^[11] Powers granted to the trustee include but are not limited to, the buying, selling, or managing of assets held in the trust.^[12]

Trustee’s Reimbursement of Expenses – A trustee is entitled to be reimbursed from the trust’s assets, and with reasonable interest, for expenses related to properly managing the trust.^[13] Such expenses include attorney’s fees and costs that arise from the trust’s management.^[14]

Trustee’s Reporting – On an annual basis, a trustee must report the trust’s assets, liabilities, receipts, and disbursements to the beneficiaries.^[15] Beneficiaries can waive the right to a trustee’s report if it is unnecessary.^[16]

Trustee’s Resignation – If a trustee is to remove themselves from a trust, they must provide at least 30 days’ notice to the trust’s beneficiaries and the grantor (if living).^[17]

Trust Certificate – Upon request by a 3rd party (other than a beneficiary), a trustee may create a trust certificate instead of providing a copy of a trust that mentions the following:

• The trust is valid, exists, and the date of execution;
• Grantor’s name;
• Trustee’s name and address;
• Trustee’s specific powers;
• If the trust is revocable;
• If more than one trustee is named, a description of how authority over the trust is managed; and
• The manner of taking title to trust property.^[18]

Trusts Made in Another State – A trust made in another State is valid in Arizona.^[19]