{"data":{"id":"us-ar/ark.-code-ann.-28-72-602","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 28-72-602","heading":"Settlement of trust","body":"(a) A qualified spousal trust may include a trust term that is not inconsistent with the provisions of this subchapter, including without limitation a discretionary power to distribute trust property to a person other than a settlor. (b) (1) Unless otherwise provided in writing by each settlor who transfers property to a qualified spousal trust, property that is held at any time in a qualified spousal trust, without regard to how the property was titled before the property was held: (A) Has the same immunity from the claim of a separate creditor of either settlor as if the property were held outside the qualified spousal trust by both settlors as tenants by the entirety; and (B) Shall be treated as tenants by entirety property for the purpose of immunity from federal and state bankruptcy laws. (2) Property that is held in a qualified spousal trust is not immune from the claim of a creditor if the marriage of the settlors dissolves. Added by Act 2019, No. 1047,§ 1, eff. 7/24/2019.\n\n(a) A qualified spousal trust may include a trust term that is not inconsistent with the provisions of this subchapter, including without limitation a discretionary power to distribute trust property to a person other than a settlor.\n\n(b) (1) Unless otherwise provided in writing by each settlor who transfers property to a qualified spousal trust, property that is held at any time in a qualified spousal trust, without regard to how the property was titled before the property was held: (A) Has the same immunity from the claim of a separate creditor of either settlor as if the property were held outside the qualified spousal trust by both settlors as tenants by the entirety; and (B) Shall be treated as tenants by entirety property for the purpose of immunity from federal and state bankruptcy laws. (2) Property that is held in a qualified spousal trust is not immune from the claim of a creditor if the marriage of the settlors dissolves.\n\n(1) Unless otherwise provided in writing by each settlor who transfers property to a qualified spousal trust, property that is held at any time in a qualified spousal trust, without regard to how the property was titled before the property was held: (A) Has the same immunity from the claim of a separate creditor of either settlor as if the property were held outside the qualified spousal trust by both settlors as tenants by the entirety; and (B) Shall be treated as tenants by entirety property for the purpose of immunity from federal and state bankruptcy laws.\n\n(A) Has the same immunity from the claim of a separate creditor of either settlor as if the property were held outside the qualified spousal trust by both settlors as tenants by the entirety; and\n\n(B) Shall be treated as tenants by entirety property for the purpose of immunity from federal and state bankruptcy laws.\n\n(2) Property that is held in a qualified spousal trust is not immune from the claim of a creditor if the marriage of the settlors dissolves.","path":["AR Code","Title 28","Chapter 72","Subchapter 6"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"d67bc640076fd81ede5091d9b466443c6b2816a588f1ae6366048f89a77aeeed","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-28-72-601","next":"us-ar/ark.-code-ann.-28-72-603"},"notice":"GroundRules: Original legal text. Not legal advice."}