If you are included in a loved one’s estate plan, you may be wondering about the probate process in the state of Arkansas. Understanding if probate is necessary and what the probate court process includes is vital for ensuring this process goes smoothly and quickly.
At Natural State Law, PLLC, our probate attorneys can guide you through the probate process, ensuring that you follow the correct steps as a beneficiary or an executor. Keep reading to find out what the probate process looks like in Arkansas and why this may be required.
The Probate Process Step-by-Step
Before getting into what the probate process is, it is important to understand Arkansas’s probate code and when probate is required. Arkansas probate law requires this process if the decedent owned any property that was left in their name and the time of their death.
Probate may also be required if the proper heirs are debated, there are asset distribution disputes, or the assets are complex.
However, there are always some exceptions that may result in you not needing to go through the probate process.To better understand how probate works and whether or not it is required in your situation, you need to hire a probate attorney. An attorney will be able to instruct you on the best course of action and how to go through probate if it is required.
Identifying the Executor
The first step to start a probate is to file a petition with the right court to open a probate. This job is usually left to the estate executor who has five years to start this process..
The executor should be identified in the will, but if there is no will, a probate judge will appoint one. When an executor has been appointed, they will have the following jobs during the probate process:
- Publish notice for creditors
- Notify heirs and beneficiaries
- Secure assets
- Take inventory of the estate
Probate with a Will
If the decedent was planning for the future, they most likely have a will in place that dictates their last wishes and how they want their assets distributed. Before any action can be taken, the will needs to be authenticated by proving that it is legally binding and created by the decedent. Parties who are named and not named as beneficiaries will have the opportunity to challenge the will based on its validity.
Here are some common reasons why family members or heirs may challenge the will:
- Improper witnesses
- Existence of more than one will
- Unclear will provisions
- Influence or fraud
- Misrepresentation
- Incapacitated ability of the decedent when they created it
If the court finds the will to be valid, you will get letters of administration, and action can be taken according to what the will has detailed. This usually involves having the executor pay any debts, bills, and taxes, as well as distributing assets to the designated beneficiaries.
Whether the will is challenged or not, you need to have a probate attorney on your side. They can help you follow the legal process of probate and ensure that the decedent’ last wishes are respected.
Probate Without a Will
Now that you know how to probate a will, you may also need to know how to go through probate without a will. When a decedent dies without a will in place, this is called intestate. Their assets will still be distributed, but this will be done according to the state’s intestacy laws.
The executor will need to locate any of the estate assets, notify paid creditors, and distribute the estate according to the laws of intestacy to the decedent’ closest heirs. The individuals who are usually the first to be considered as heirs are the surviving spouse, children or grandchildren, parents, siblings, or grandparents. If none of those family members are living, then the estate may go to extended family such as aunts or uncles.
Final Probate Steps
The executor will be required to submit receipts and records of everything they do to the court, such as debt and bills that have been paid and how the remaining assets were distributed. Once that is complete, the executor can ask the court to close the estate and release them from their role as the executor.
How to Avoid Probate in Arkansas
Going through the process of probate can be overwhelming, expensive, and time-consuming for beneficiaries. One way you can avoid having to go through this is to establish a living trust that will transfer all of your assets into a trust with a designated trustee.
When you pass away, the assets in the trust will be distributed to the beneficiaries specified by the trust without having to go through the probate process. To better understand how to create a living trust to avoid probate, you need to hire an estate planning attorney who can help you decide if this is the right fit for your situation.
You could also have more control over where your assets go and how easy the process is for your beneficiaries by establishing life insurance proceeds with a named beneficiary or securities held in a transfer on-death account. You can also use payable-on-death bank accounts and funds in IRAs, 401K’s, or other retirement accounts with a named beneficiary.
Hire a Probate Attorney at Natural State Law, PLLC
If a loved one has died and left you as a beneficiary or executor of their estate plan, you will need to know how probate works in Arkansas. Understanding this process is crucial when it comes to taking all of the necessary steps and ensuring everything goes smoothly.
At Natural State Law, PLLC, our probate attorneys are dedicated to providing our clients with the legal guidance and assistance they need throughout the probate process. Contact us today at 501-916-2878 for a consultation.