(a) After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than one hundred thousand dollars ($100,000) may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.
(b) A court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
(c) Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
(d) This section does not apply to an easement for conservation or preservation.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 73 - Arkansas Trust Code
Subchapter 4 - Creation, Validity, Modification, and Termination of Trust
§ 28-73-401. Methods of creating trust
§ 28-73-402. Requirements for creation
§ 28-73-403. Trusts created in other jurisdictions
§ 28-73-405. Charitable purposes — Enforcement
§ 28-73-406. Creation of trust induced by fraud, duress, or undue influence
§ 28-73-407. Evidence of oral trust
§ 28-73-408. Trust for care of animal
§ 28-73-409. Noncharitable trust without ascertainable beneficiary
§ 28-73-410. Modification or termination of trust — Proceedings for approval or disapproval
§ 28-73-411. Modification or termination of noncharitable irrevocable trust by consent
§ 28-73-414. Modification or termination of uneconomic trust
§ 28-73-415. Reformation to correct mistakes
§ 28-73-416. Modification to achieve settlor's tax objectives