Notice of Trust to Qualified Beneficiaries (Arkansas Trust Code § 28-73-813)

NOTICE OF TRUST TO QUALIFIED BENEFICIARIES

Pursuant to Arkansas Code Annotated § 28-73-813

I. IDENTIFICATION OF NOTICE

II. IDENTIFICATION OF SETTLOR AND TRUST (§ 28-73-813(b)(3)(A)–(B))

Name of Settlor(s): [________________________________]

Date of Death of Deceased Settlor (if applicable): [__/__/____]

Name of Trust: [________________________________]

Date of Original Trust Instrument: [__/__/____]

Trust Tax Identification Number / EIN (if assigned): [____________________]

Dates of All Amendments and Restatements:

☐ There have been no amendments or restatements to the Trust.

III. TRIGGERING EVENT (§ 28-73-813(b))

This Notice is served because the following event has occurred:

☐ Acceptance of Trusteeship (§ 28-73-813(b)(2)). The undersigned trustee accepted the trusteeship on [__/__/____] and serves this notice within sixty (60) days of acceptance.

☐ Trust Became Irrevocable on Death of Settlor (§ 28-73-813(b)(3)). A formerly revocable trust became irrevocable by reason of the death of settlor [________________________________] on [__/__/____].

☐ Knowledge of Irrevocable Trust (§ 28-73-813(b)(3)). The trustee acquired knowledge of the creation of an irrevocable trust on [__/__/____].

☐ Trust Became Irrevocable by Other Operation of Trust Terms (§ 28-73-813(b)(3)). The trust became irrevocable on [__/__/____] by [____________________________________________].

IV. TRUSTEE CONTACT INFORMATION (§ 28-73-813(b)(2))

V. QUALIFIED BENEFICIARIES SERVED WITH NOTICE (§ 28-73-103(13))

A. Representation Under § 28-73-303

☐ Not Applicable — all qualified beneficiaries are receiving notice directly.

☐ Applicable — the following persons receive notice on behalf of represented beneficiaries under § 28-73-303 (substantially identical interest):

VI. RIGHT TO REQUEST A COPY OF THE TRUST INSTRUMENT (§ 28-73-813(b)(1), (b)(3)(C))

You are entitled, upon request to the Trustee, to receive a complete copy of the trust instrument and all amendments and restatements. Pursuant to Ark. Code Ann. § 28-73-813(b)(1), the Trustee shall promptly furnish a copy of the trust instrument upon a beneficiary's request.

To request a copy, contact the Trustee at the address and telephone number listed in Section IV above.

VII. RIGHT TO A TRUSTEE'S REPORT (§ 28-73-813(b)(3)(D), (c))

You are entitled to a trustee's report at least annually and at the termination of the Trust. Under Ark. Code Ann. § 28-73-813(c)(1), the Trustee shall send to the distributees or permissible distributees of trust income or principal, and to other qualified or nonqualified beneficiaries who request it, a report of:

• the trust property;
• the trust liabilities;
• the trust receipts and disbursements (including the source and amount of the Trustee's compensation);
• a listing of the trust assets and, if feasible, their respective market values.

A report must also be sent on a vacancy in a trusteeship (§ 28-73-813(c)(2)) and at the termination of the Trust (§ 28-73-813(c)(1)).

To request a trustee's report, contact the Trustee at the address listed in Section IV.

VIII. ADVANCE NOTICE OF CHANGE IN TRUSTEE COMPENSATION (§ 28-73-813(b)(3)(E))

☐ There is no anticipated change in the method or rate of Trustee compensation at this time. Should the method or rate change, the Trustee will provide advance notice as required by § 28-73-813(b)(3)(E).

☐ The Trustee gives advance notice of the following change in the method or rate of Trustee compensation, effective [__/__/____]:

[____________________________________________________________]

[____________________________________________________________]

IX. RIGHT TO REQUEST INFORMATION (§ 28-73-813(a))

The Trustee has an ongoing duty under Ark. Code Ann. § 28-73-813(a) to keep the qualified beneficiaries reasonably informed about the administration of the Trust and of the material facts necessary to protect their interests. Unless unreasonable under the circumstances, the Trustee shall promptly respond to a beneficiary's request for information related to the administration of the Trust.

To submit a request for information, contact the Trustee in writing at the address listed in Section IV.

X. WAIVER OF FUTURE REPORTS (§ 28-73-813(d)) — OPTIONAL

☐ Not Applicable — no waiver is being solicited or executed with this Notice.

☐ Optional Waiver: A beneficiary may at any time deliver a signed written waiver of future reports to the Trustee. A waiver may be withdrawn in writing at any time as to future reports.

XI. METHOD AND DATE OF SERVICE

Service of this Notice was made by one or more of the following methods, to the last known address of each qualified beneficiary identified in Section V:

☐ First-class mail, postage prepaid

☐ Certified mail, return receipt requested

☐ Personal delivery

☐ Other method reasonably calculated to give actual notice: [____________________]

Date Notice was placed in the mail or personally delivered: [__/__/____]

XII. TRUSTEE EXECUTION

I, the undersigned Trustee, certify under penalty of perjury under the laws of the State of Arkansas that the foregoing is true and correct and that I have served this Notice on the persons identified in Section V by the methods identified in Section XI, in compliance with Arkansas Code Annotated § 28-73-813.

Executed on [__/__/____] at [____________________], Arkansas.

Trustee Signature: [________________________________]

Print Name: [________________________________]

Capacity: [________________________________]

XIII. PROOF OF SERVICE

I, the undersigned, declare that I am over the age of 18 years and not a party to this matter. My business or residence address is set forth above. On the date stated above, I served the foregoing NOTICE OF TRUST TO QUALIFIED BENEFICIARIES on each of the persons identified in Section V by placing a true copy thereof in a sealed envelope addressed to each such person at the address set forth in Section V, with postage thereon fully prepaid, and depositing the envelope in the United States Mail at the place stated above, OR by personal delivery as indicated.

I declare under penalty of perjury under the laws of the State of Arkansas that the foregoing is true and correct.

Executed on [__/__/____] at [____________________], Arkansas.

Signature: [________________________________]

Print Name: [________________________________]

SOURCES AND REFERENCES

• Ark. Code Ann. § 28-73-103 — https://law.justia.com/codes/arkansas/title-28/subtitle-5/chapter-73/subchapter-1/section-28-73-103/.
• Ark. Code Ann. § 28-73-105 — https://law.justia.com/codes/arkansas/title-28/subtitle-5/chapter-73/subchapter-1/section-28-73-105/.
• Ark. Code Ann. § 28-73-303 — https://law.justia.com/codes/arkansas/title-28/subtitle-5/chapter-73/subchapter-3/section-28-73-303/.
• Ark. Code Ann. § 28-73-604 — https://law.justia.com/codes/arkansas/title-28/subtitle-5/chapter-73/subchapter-6/section-28-73-604/.
• Ark. Code Ann. § 28-73-813 — https://law.justia.com/codes/arkansas/title-28/subtitle-5/chapter-73/subchapter-8/section-28-73-813/.
• Roberts v. Roberts, 2009 Ark. App. 754.