Ark. Code Ann. » Title 28 Chapter 73
Arkansas Code Annotated

Ark. Code Ann. § 28-73-810 (2020)

Recordkeeping and identification of trust property

✓ Arkansas Code release r76: Acts through about 2020 (2021-2025 sessions missing)
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  1. A trustee shall keep adequate records of the administration of the trust.
  2. A trustee shall keep trust property separate from the trustee's own property.
  3. Except as otherwise provided in subsection (d), a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
  4. If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two (2) or more separate trusts.

History. Acts 2005, No. 1031, § 1.

Case Notes

Claims for Breach of Trust.

Beneficiary's claims that the trustee converted trust assets, deposited proceeds into her personal accounts, and actively concealed and failed to disclose her dealings with trust assets and investment of proceeds were assertions of breach of trust; therefore, the statute of limitations in the Arkansas Trust Code in § 28-73-1005 controlled, rather than the more general three-year tort limitations period in § 16-56-105. Peck v. Peck, 2019 Ark. App. 190, 575 S.W.3d 137 (2019).

Notes of Decisions
Cited in 1 case, 2019–2019 · leading case: Peck v. Peck, 2019 Ark. App. 190, 575 S.W.3d 137.
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Peck v. Peck, 2019 Ark. App. 190, 575 S.W.3d 137. · cites it 4× “A trustee must administer the trust in the interests of the trust beneficiaries, and failing to disclose material facts concerning trust assets and inappropriately taking trust property would be a violation of this duty.”
Ark. Code Ann. § 28-73-810(b): 1 case
Peck v. Peck, 2019 Ark. App. 190, 575 S.W.3d 137. “A trustee must administer the trust in the interests of the trust beneficiaries, and failing to disclose material facts concerning trust assets and inappropriately taking trust property would be a violation of this duty.”
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