Drafting a Trust In Jacksonville, Arkansas

Find the Right Lawyer Now

In Jacksonville, Arkansas, a trust is an arrangement in which property is held by one person (the trustee) for the benefit of another (the beneficiary).

A trust can be set up for just about any reason. One of the most frequent reasons is to ensure that a person consistently has enough money to avoid going broke, but not enough that they can avoid getting a job, or spend all of the money on things they don't need. This can be accomplished by drafting a trust agreement so that only authorizes the beneficiary to access a limited portion of the money per week, or per month.

A trust can make as many or as few allowances as the person creating it wants. For example, a trust could be set up which authorizes the beneficiary to spend the money on educational expenses, and nothing else.

A trust could, of course, be much more permissive, if the creator of the trust wants it to be. You could set up a trust permitting the beneficiary to spend as much of the money in it as they like, on anything. Of course, in such a situation, the trust fund might not last very long, especially if the beneficiary is a younger person.

What to Include in Any Jacksonville, AR Trust

There are 4 things that have to be present in every trust for it to be valid in Jacksonville, Arkansas. First, the trust must have a stated purpose. Whatever purpose you intend the trust to serve, you should make it extremely clear when drafting the document.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be responsible for putting it to the use that the creator of the trust intended.

Third, there must be a named beneficiary. This is the person, persons, or entity who is really benefiting from the trust. This person or entity must be clearly identified, or must be identifiable at some point in the future that can be objectively defined.

Finally, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Find a Jacksonville Lawyer that Specializes in Your Area of Need:

Can A Jacksonville, Arkansas Trust Drafting Attorney Help?

While the elements of a valid trust are fairly simple and easy to memorize, drafting a trust that is likely to be carried out according to your wishes can be fairly perplexing. For that reason, a Jacksonville, Arkansas attorney specializing in estate planning can be invaluable.

6 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Jacksonville

Drafting a Trust Attorneys in the Largest AR Cities

Show Arkansas Cities

Drafting a Trust Lawyers in Other Arkansas Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

General Practice Lawyer
LegalMatch General Practice Lawyer Timothy W.

Timothy W.

Pulaski, AR

General Practice

Rating (3 users) *****
See Reviews
Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Joel C.

Joel C.

Pulaski, AR

Employment and Labor Law

Rating (19 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer J. Allen F.

J. Allen F.

Kalamazoo, MI

Criminal Law

Rating (7 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Robert L.

Robert L.

Kent, RI

Family Law

Rating (7 users) *****
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: