Get a Secure Inheritance Loan, usually within 72 Hrs if you’re an Heir or Beneficiary of an Estate in Arkansas, in Probate or Trust
If you are currently dealing with, or about to deal with, the Arkansas state court system with respect to a probate or estate issue – the following information should be helpful to you.
Probate law governs estate matters when someone who, such as a family member or other loved one, passes away. These laws insure that creditors are paid properly and that assets are distributed correctly to the “heirs,” or the descendant(s) of the estate.
What is the purpose of Probate? Probate is the legal process that deals with estate assets and property, with regard to heirs and creditors. Probate begins with a “petition” to open the estate and name a personal representative who is responsible for the administration of the deceased’s property.
The next step is when an official Notice of Creditors is printed in a local newspaper and Notice of Administration is sent to other involved parties. Creditors then have a set amount of time to file their claims from the first date of publication. Then the personal representative can pay the debt and distribute the remaining estate. Finally, a petition for discharge is filed, and the estate is closed.
Arkansas Probate Law
The Arkansas probate process in no simpler than any other state and therefore requires similar diligence.
In Arkansas, it is critical to stay aware of time limits associated with probate and administration, which must be accounted for by your estate’s personal representative. The personal representative will need to request a petition for the probate of the Will and see that the assets are formally and legally identified.
As for dealing with Arkansas probate matters, such as time limits for probate and administration, your probate lawyer will understand all of the probate guidelines stipulated by the state of Arkansas.
In Arkansas, probate must be petitioned within 5-years of the decedent’s death. A petition for the probate of a will or for “original appointment” is written by the personal representative. It will need to include the name, age, address, date, place of death of the decedent, relationships and addresses of heirs, and so on. You will also need to include the value of the estate’s real property and personal property. Arkansas’ guidelines for this appraisal are very precise.
The personal representative is responsible for “discovery” (identification) of both real estate and personal property of the deceased. In Arkansas , this “discovery” process is formalized under oath.
In Arkansas, persons who refuse to show up in court when ordered to do so, or who refuse to respond to valid questions regarding estate matters, may be held in contempt of court. Another reason to choose a probate lawyer you can depend on.
Probate in Arkansas
Arkansas does not have a separate probate court. The Circuit Court has jurisdiction over estate, mental health, and juvenile matters. The court allows jury trials.