Revocable Living Trusts Attorney in Arkansas
No matter what future holds for you, one truth remains: you want the fruits of your labor to land smoothly in the hands of the people you care about. One way to achieve this is through estate planning.
But you might be wondering if there’s a better way than just having a simple will? Something that gives you more control and privacy while saving your loved ones from headaches during an already difficult time? That’s exactly what a revocable living trust is for.
At Arkansas Legacy Planning, we understand the emotional weight of decisions that fall on your shoulders. Our compassionate attorneys are here to guide you through the practical steps and support you with genuine care and straightforward advice.
What Is a Revocable Living Trust?
A revocable living trust is a legal document you create that holds title to the property you choose. “What makes it revocable and what makes it living?” you might be wondering.
Because the trust is revocable, you can rewrite it anytime life surprises you with a new baby, a new business, or a sudden move. Because it’s living, it starts protecting you right now, not just after you’re gone.
Arkansas adopted the Uniform Trust Code in 2005 (Arkansas Code Ann. § 28‑73‑101), so the rules you will see nationwide largely apply here at home. Under that statute, a trust is valid if:
- The settlor (you) has capacity to create it;
- The trust has a clear purpose and identifiable property;
- There’s at least one beneficiary who can enforce it; and
- A trustee is named (or a court can appoint one).
Because the trust is a private contract, it isn’t filed in probate court the way a will is. Your wishes stay confidential, and your loved ones avoid much of the paperwork parade that typically follows a death.
Benefits of a Revocable Living Trust
Why bother with a trust when a will seems simpler? Here are some of the most notable advantages of setting up this type of trust:
- Skip (most of) probate. Trust property passes directly to beneficiaries, saving them months or even a year of court supervision.
- Continuity during incapacity. If Alzheimer’s, a stroke, or an accident leave you unable to manage finances, your successor trustee steps in immediately without the expensive conservatorship hearing needed.
- Privacy. Probate files are public records. A trust keeps your asset list, debts, and family disputes out of the public eye.
- Efficiency for multistate property. A single trust can administer all your out‑of‑state real estate, avoiding multiple probates.
- Custom control. You can choose to sprinkle distributions over the years or protect inheritances until a predetermined event or time. You can personalize your instructions as much as you like.
While no estate plan can erase grief, a well‑crafted revocable living trust can lift a huge administrative burden off the people you care about most.
Key Players in a Revocable Living Trust
Every good plan runs on teamwork, and revocable living trusts are no exception. This type of trust typically includes:
- Settlor / grantor: That’s you—the person who creates, funds, and (while living) controls the trust.
- Trustee: This person handles daily administration: paying bills, filing taxes, investing assets. You can serve as initial trustee and name a backup (successor).
- Successor trustee: That’s the person who takes the wheel if you resign, become incapacitated, or pass away. It’s often a spouse, adult child, or professional fiduciary.
- Beneficiaries: These are the people (or charities) who receive income or principal according to the trust terms. During your life, you’re usually the primary beneficiary.
Everyone you choose should understand their duties under the Arkansas Trust Code, especially the duty of loyalty (§ 28‑73‑802) and duty of prudent administration (§ 28‑73‑804).
Creating a Revocable Living Trust
The journey to creating your trust begins with a heart-to-heart conversation. At Arkansas Legacy Planning, we take time to understand who the important people in your life are, what your hopes for them might be, and what concerns keep you up at night when thinking about the future.
It’s deeply personal, and we treat it that way. These initial discussions form the foundation for everything that follows.
Based on these conversations, our estate planning attorneys then craft a trust document that captures your intentions while helping you understand Arkansas trust law.
But this isn’t a one-size-fits-all template pulled from a drawer (something you might find when you download trust templates online). It’s your unique plan, written in clear language that reflects your specific wishes and family circumstances.
Once your trust document is ready, you will sign it in front of a notary public (we make this easy by having notaries in our office). This simple act transforms your wishes from ideas into legally binding instructions that will protect your family and assets according to your specific desires.
But here’s where many DIY trusts fall apart: creating the document is only half the battle. Your trust needs to “own” your assets for it to work properly. The next step is funding your trust.
Funding a Revocable Living Trust
An unfunded trust is like an empty safety deposit box. Even if it’s perfectly drafted, it’s practically useless. Common assets to retitle or designate include:
- Real estate: We prepare Arkansas warranty deeds or beneficiary deeds to move your homestead or rental properties into the trust.
- Bank and brokerage accounts: Your banker can retitle accounts to “Jane Doe, Trustee of the Jane Doe Revocable Living Trust dated …”
- Investment portfolios: Mutual funds and brokerage firms have simple transfer forms.
- Business interests: LLC membership certificates or corporate share assignments put your company in the trust’s name.
- Tangible personal property: Artwork, collectibles, and other types of personal property is often transferred via a general assignment of assets.
- Digital assets: Cloud storage, cryptocurrency wallets, and social‑media accounts need special attention to comply with the Arkansas Uniform Fiduciary Access to Digital Assets Act (§ 28‑71‑101).
Certain items like qualified retirement accounts usually stay outside the trust for tax reasons. Instead, you name the trust (or individuals) as beneficiaries. Our team at Arkansas Legacy Planning will explain these nuances to make sure you get the most out of your plan.
Protecting Assets with a Revocable Living Trust
Let’s have an honest conversation about what a revocable living trust can and can’t do when it comes to protecting your assets.
We wish we could tell you that creating a revocable living trust will shield your assets from creditors, lawsuits, or nursing home costs during your lifetime, but that would be misleading. The truth is, since you maintain complete control over your revocable trust, Arkansas courts generally consider those assets still “yours” and available to satisfy your debts.
Think about it this way: if you could simply put assets in a revocable trust and make them untouchable by creditors while still using them however you want, everyone would do it.
“But what about after I’m gone?” you might be thinking. Now that’s a fair question.
Here’s where things get more interesting. After your death, assets properly held in trust for your beneficiaries can indeed receive significant protection. With the right provisions, your trust can shield an inheritance from your adult child’s creditors, potential divorce proceedings, or even their own poor financial decisions.
Create Your Revocable Living Trust With Arkansas Legacy Planning
When you sit down with Arkansas Legacy Planning, the conversation feels less like a formal consultation and more like a heartfelt conversation with a friend.
From that first chat, we walk you through each decision in plain English, turning abstract legal concepts into everyday scenarios you can picture:
Who steps in if you’re suddenly hospitalized? How will a child’s inheritance be managed if college is still years away? What happens to the lake cabin or the small business you spent decades building?
We explain all provisions in the trust in everyday language. In fact, we don’t consider it explained until you truly understand it. When you work with our team, you also get hands-on help with the often confusing process of funding your trust.
By hiring an estate planning lawyer at Arkansas Legacy Planning, you’re getting a partnership that truly transforms a revocable living trust from a legal instrument into a living expression of your values—today, tomorrow, and for generations to come.
Frequently Asked Questions
You run the show as trustee until you can’t. Then your appointed successor (spouse, adult child, or professional) jumps in without court approval.
Not while you’re alive. After you pass, spendthrift clauses can help shield beneficiaries from their creditors.
Yep. A pour‑over will catches stray assets you forgot to retitle and funnels them into the trust.
The trust itself doesn’t slash taxes because assets remain in your taxable estate. Smart drafting for married couples can, however, reduce or delay federal estate taxes.
Anything that would get stuck in probate: houses, bank and brokerage accounts, business interests, big‑ticket personal property. Retirement accounts typically stay outside but can name the trust as contingent beneficiary.
Contact Us
If all this talk about trusts has you thinking, “I really should get my plan in order,” we’re here and ready when you are. A quick call is all it takes to have a friendly, no‑pressure chat with one of our attorneys. We will answer your questions, explain your next steps, and leave you feeling lighter, whether you decide to move forward now or simply gather information for later. Get in touch now.
Contact Us
Feeling lost or worried about your future? Our team at Arkansas Legacy Planning is here to provide personalized support for all your estate planning needs. Contact us today so we can start working on a clear, tailored strategy designed specifically to safeguard what matters most to you.
