A living trust can be a key aspect of estate planning and avoiding probate. The living trust follows all the legal requirements in Arkansas for passing assets to heirs. If your loved one created a living trust before passing away, all the property and assets go into the trust. No assets exist in the person’s name who died. With the assets in the living trust, this trust can then transfer ownership of the assets to the specified beneficiaries. The person who died sets up the living trust to either hold the assets for a certain amount of time or to immediately pass on those assets.