Arkansas Living Trust Forms
Download the Arkansas Living Trust form which allows a grantor to transfer certain assets or property into a separate entity which is administered by a trustee chosen by the grantor. The grantor, can choose which property he or she wants the trust to own and how he or she want the assets to be distributed by the trustee. The trustee must carry outthe provisions as set forth in the trust and has a fiduciary responsibility to the beneficiaries to manage the trust in their best interests.
Revocable vs. Irrevocable: A revocable trust is a trust which the grantor can change or revoke during his or her lifetime. Upon the death of the grantor, it becomes irrevocable. An irrevocable trust is a trust which cannot be changed or revoked by the grantor once it is effectively created and executed without risking tax consequences.