What Are My Duties as Trustee in Arkansas?

Arkansas requires the successor trustee to notify qualified beneficiaries of the trust's existence and the trustee's contact information within 60 days of the grantor's death.Ark. Code Ann. § 28-73-101 et seq.Verified May 31, 2026 The notice typically includes the trustee's name and address, and the beneficiary's right to request trust information.

When the grantor dies, the revocable trust becomes irrevocable and requires its own EIN (Employer Identification Number) from the IRS. The trustee must file Form 1041 (U.S. Income Tax Return for Estates and Trusts) for any income earned by trust assets after the date of death. The trust may also need to file a Arkansas state income tax return.

Arkansas requires trustees to maintain detailed records of all trust transactions, including income, expenses, distributions, and investment decisions.Ark. Code Ann. § 28-73-101 et seq.Verified May 31, 2026 Beneficiaries have the right to request accountings. Proper documentation protects the trustee from liability claims and provides transparency for beneficiaries.

Trustee compensation in Arkansas is based on reasonable compensation for the services performed. Professional trustees typically charge 0.5-1.5% of trust assets annually. Individual (non-professional) trustees often reference executor fee guidelines (2-3% of estate value) as a benchmark. See the Arkansas trustee compensation guide for details.

Trust administration in Arkansas typically takes 6-12 months, compared to 9-12 months for average probate cases.Ark. Code §§ 28-48-108(a) (executor compensation — just and reasonable cap: 10% first $1K / 5% next $4K / 3% balance of personal property), 28-48-108(d)(2) (attorney fee schedule — 6-tier progressive, 5% to 2%, on total market value), 28-41-101 (small estate affidavit, $100K / 45 days / real property counts toward cap), 28-50-101 (creditor claims: 6 months from first publication; 2-year bar for non-noticed creditors; 5-year absolute bar), 28-48-201 (bond — "may require", discretionary; amended by Act 326 of 2023 / HB1448, eff. 8/1/2023; prior "shall take" language stricken; § 28-48-203 repealed), 28-48-206 (dispensing with bond — will direction or FDIC-insured fiduciary), 28-40-111 (publication of notice of appointment), 28-1-112 (publication method), 28-49-110 (PR-prepared inventory and appraisement). Verified 2026-05-31 via Justia 2024 Arkansas Code (law.justia.com/codes/arkansas/title-28/) and HB1448 bill text (arkleg.state.ar.us/Bills/Detail?id=HB1448&ddBienniumSession=2023/2023R).Verified May 31, 2026 Trust creditors have 6 months to file claims, compared to 6 months for probate creditor claims. Trust administration avoids court involvement, public filings, and many of the procedural delays associated with probate. See the Arkansas estate settlement guide for a complete overview.