The Three Categories of Trusts Covered
Not every legal arrangement called a "trust" falls under the Arizona Trust Code. This statute draws the boundary. It identifies three types of trusts that the code governs.
This chapter applies to express trusts, charitable or noncharitable trusts and trusts created pursuant to a statute, judgment or decree that requires the trust to be administered in the manner of an express trust.
A.R.S. § 14-10102First, express trusts. These are trusts intentionally created by a person, whether through a trust document signed during their lifetime (like a revocable living trust) or through a will (a testamentary trust). Second, charitable trusts, which are created for a charitable purpose rather than for specific individuals. Third, trusts established by a court order or statute that must follow the same administration rules as an express trust.
What This Does Not Cover
Certain trust-like arrangements fall outside the scope of this chapter. Constructive trusts and resulting trusts, which are created by courts as equitable remedies rather than by the parties themselves, generally are not governed by the Arizona Trust Code. The same applies to business trusts used primarily as investment vehicles.
For most Arizona families, the trusts they encounter in estate planning, revocable living trusts, irrevocable trusts, special needs trusts, and charitable trusts, all fall squarely within the scope of this statute. That means the rules in the Arizona Trust Code regarding trustee duties, beneficiary rights, trust modification, and administration apply to those arrangements.
