(a) The accumulation of income of trust property may be directed in the document creating a spendthrift trust or domestic asset protection trust for the benefit of one (1) or more beneficiaries to commence within the time permitted for the vesting of a future interest, but shall not extend beyond the period limiting the time within which the absolute power of alienation of property may be suspended.(b)(1) If the direction of the accumulation of income of trust property is for a longer term than is permitted by law, it is void only as to the excess time, regardless of whether the direction is separable from the other clauses in the trust.(2) In the case of invalidity of the direction of the accumulation of income of trust property, the income may be paid and distributed to the next succeeding beneficiary in interest.Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.
Arkansas Legal Code