Tait v. Community First Trust Co.
Arkansas Supreme Court
2012 Ark. 455
Relevant factsFree
William and Annie Fowler's family trust named stepsons Dale and Billy Ray Jones as beneficiaries, but both predeceased William before the trust terminated at the surviving spouse's death; the circuit court found their interests had not vested until William's death and thus lapsed, barring their children from claiming their shares.
IssueFree
Whether, under Arkansas law, the interest of a beneficiary of an inter vivos trust lapses when the beneficiary predeceases the settlor.