One of my very first posts on this blog generally discussed the legal duties of trustees under Arkansas law. While that post summarized some of the more abstact legal principles at issue, a much more common question posed to me and other attorneys at dinner parties and elsewhere is what are the practical duties of trustees (and, [...]
Archive for the ‘Rights of creditors’ Category
Newly-Discovered Assets In Old Estate Result In New Litigation
Posted in Duties of executors, Recent Arkansas appeals, Rights of beneficiaries, Rights of creditors, tagged arkansas, assets, creditors, estate, Fayetteville Shale, insolvent, probate, solvent, tennessee on October 22, 2009 | Leave a Comment »
A recent decision from the Arkansas Court of Appeals in Ellingsen v. King, 2009 Ark. 655 (October 7, 2009) illustrates how some long-forgotten but newly-discovered property can often send family members and creditors scrambling for their piece of the pie. This interesting case involved Mr. McAlexander, who died in 1988 a resident of Shelby County, Tennessee. An [...]
