Ark. Code R. 26-51-102 - 7 (1997) - Revocable Trust

26-51-102 - 7 - Revocable Trust
26-51-102 - 6 - Limited Liability Company26-51-102 - 8 - Trust

A trust in which the settlor (that is, grantor or creator of the trust) reserves the right to revoke the trust. The settlor would be considered to be the "owner" of such a trust. Therefore, revocable trusts may be treated as grantor trusts under certain circumstances. IRC Sec. 671 et seq.; Reg. 1.676(a).

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