{"data":{"id":"us-ar/ark.-code-ann.-28-73-411","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 28-73-411","heading":"Modification or termination of noncharitable irrevocable trust by consent","body":"(a) (1) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. (2) A settlor's power to consent to a trust's modification or termination may be exercised by: (A) an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; (B) the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or (C) the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed. (b) A noncharitable irrevocable trust may be: (1) terminated upon consent of all of the beneficiaries if a court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust; or (2) modified upon consent of all of the beneficiaries if a court concludes that modification is not inconsistent with a material purpose of the trust. (c) A spendthrift provision in the terms of the trust is presumed to constitute a material purpose of the trust. (d) Upon termination of a trust under subsection (a) or (b), the trustee shall distribute the trust property as agreed by the beneficiaries. (e) If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection (a) or (b), the modification or termination may be approved by a court if the court is satisfied that: (1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the interests of a beneficiary who does not consent will be adequately protected. Acts 2005, No. 1031, § 1.\n\n(a) (1) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. (2) A settlor's power to consent to a trust's modification or termination may be exercised by: (A) an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; (B) the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or (C) the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.\n\n(1) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust.\n\n(2) A settlor's power to consent to a trust's modification or termination may be exercised by: (A) an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; (B) the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or (C) the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.\n\n(A) an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust;\n\n(B) the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or\n\n(C) the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.\ner of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust;\n\n(B) the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized; or\n\n(C) the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.\n\n(b) A noncharitable irrevocable trust may be: (1) terminated upon consent of all of the beneficiaries if a court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust; or (2) modified upon consent of all of the beneficiaries if a court concludes that modification is not inconsistent with a material purpose of the trust.\n\n(1) terminated upon consent of all of the beneficiaries if a court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust; or\n\n(2) modified upon consent of all of the beneficiaries if a court concludes that modification is not inconsistent with a material purpose of the trust.\n\n(c) A spendthrift provision in the terms of the trust is presumed to constitute a material purpose of the trust.\n\n(d) Upon termination of a trust under subsection (a) or (b), the trustee shall distribute the trust property as agreed by the beneficiaries.\n\n(e) If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection (a) or (b), the modification or termination may be approved by a court if the court is satisfied that: (1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the interests of a beneficiary who does not consent will be adequately protected.\n\n(1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and\n\n(2) the interests of a beneficiary who does not consent will be adequately protected.","path":["AR Code","Title 28","Chapter 73","Subchapter 4"],"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":"e7011627d8d117a57d4858d3c6a5df567db704596de6ecd0cfe6fadb9b7c2a7f","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-28-73-410","next":"us-ar/ark.-code-ann.-28-73-412"},"notice":"GroundRules: Original legal text. Not legal advice."}