Revocable Living Trust requirements in Arkansas
- Be at least 18 years old and of sound mind.
- Have a valid Social Security number (for the trust's tax ID if needed).
- Draft a trust document that names you as trustee and a successor trustee.
- Sign the trust document in front of a notary public (Arkansas requires notarization).
- Transfer ownership of your assets into the trust (funding).
- Keep the trust document updated after major life changes.
Download our Arkansas revocable living trust template now.
Create your revocable living trustHow to create a Revocable Living Trust in Arkansas, step by step
- List your assets: real estate, bank accounts, investments, vehicles, personal property.
- Decide who will be your beneficiaries and successor trustee.
- Draft your revocable living trust document. You can use a template or hire an attorney. The document must meet Arkansas law.
- Sign the trust in front of a notary public. Arkansas doesn't require witnesses for a revocable living trust, but notarization is needed.
- Transfer title of your assets to the trust. For real estate, record a deed with the county clerk. For bank accounts, change ownership to the trust.
- Store the original trust document safely, and give copies to your successor trustee and financial institutions.
Cost considerations
The cost to create a revocable living trust in Arkansas varies. Using a template like those online can be under $100. Hiring an estate planning attorney will cost between $1,500 and $3,000 on average. Filing fees for a deed transfer in Arkansas are usually less than $100 per property.
Arkansas Living Trust: Pre-Start Checklist
Before you begin preparing your revocable living trust, gather your assets and understand Arkansas-specific signing rules. This checklist will help you prepare efficiently.
- Take a full inventory of assets: real estate, bank/investment accounts, life insurance, personal property, and digital assets.
- Decide who will be your trustee, successor trustees, and beneficiaries; for minor beneficiaries, name a guardian or set up a trust for their share.
- In Arkansas, you must sign the trust in the presence of a notary public (notarization is required), but witnesses are not required for the trust itself; however, if you plan to transfer real estate, you may need to record a deed, which also requires notarization.
- Prepare a separate pour-over will to catch any assets not transferred to the trust, and ensure it is signed with two witnesses and notarized as required by Arkansas law for wills.
- Gather current beneficiary designations on retirement accounts and life insurance—make sure they align with your trust plan, as these pass outside the trust unless the trust is named as beneficiary.
- Locate your Social Security number, legal description of real property, and account numbers to facilitate funding the trust after signing.
- Be aware that Arkansas does not have a state filing office for trusts; your trust is a private document, but any real estate deed transferring property to the trust must be recorded with the county clerk in the county where the property is located.
Common questions
What is the difference between a revocable living trust and a will in Arkansas?
A will only takes effect after death and goes through probate, which can take months and cost money. A revocable living trust avoids probate entirely. You stay in control and can change or revoke the trust anytime. Both are part of an estate plan, but a trust offers more privacy.
Do I need to notarize my revocable living trust in Arkansas?
Yes. Arkansas law requires your trust document to be signed in front of a notary public. This is a key step to make the trust valid. You don't need witnesses, but notarization is mandatory.
Can I use a living trust template for Arkansas?
Yes, you can use a template. Make sure it follows Arkansas law, especially regarding notarization and property transfer. Templates are cheaper but may not cover complex situations. Review it carefully or consult an attorney.
How do I fund my revocable living trust?
Funding means moving assets into the trust's name. For real estate, you record a new deed. For bank accounts, you change the account ownership. For cars, you update the title. Without funding, the trust won't work.