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Wills, Trusts & Estates keyed to Weisbord
Tait v. Community First Trust Co.
Citation:
425 S.W.3d 684 , 2012 Ark. 455 (2012)Facts
In November 2000, William J. Fowler and his wife Annie R. Fowler established the Fowler Family Trust as an inter vivos trust containing William’s separate property, Annie’s separate property, and their jointly owned property. The trust authorized distributions to William and Annie during their lifetimes and was initially revocable but became irrevocable upon the death of either settlor. Upon the death of the survivor, the trust was to terminate and distribute property equally among twelve named beneficiaries, including William’s two stepsons and ten nieces and nephews. Annie died in May 2001, making the trust irrevocable. Three named beneficiaries died before William: Dale Paschal Jones in November 2004, Billy Ray Jones in November 2008, and Tommy Dean Fry in June 2009. William died in January 2011. The descendants of the deceased stepsons claimed their ancestors’ shares in the trust.
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