Probate in Arkansas will and testament.testate.intestate

  • When a person dies, the property he or she owned must be distributed to his or her heirs. The legal process for passing on ownership of property is called Probate.
  •  The term “probate” refers to a “proving” of the existence of a Will, and determining “proving” who the legal heirs are if no Will exists. The process of probate determines who will receive the property and, or assets of the deceased.
  •  A probate estate with a valid Will is known as a “Testate Estate“. A probate estate without a valid Will that is governed by State law is known as an “Intestate Estate“.
  •  The probate process involves identifying and taking an inventory of the deceased’s property, accounting and appraising the value of the property, and then paying taxes and creditors from the assets of the probate estate.
  •  The probate process is generally overseen by an executor. The person designated as the executor of the estate is named as such in the Will. The executor is the person who administers the probate estate. Even if named in the Will it is generally up to the court to approve the executor. If there is no Will, a personal representative or “Administrator” is appointed by the probate court to oversee the process. In some states or provinces the executor is also called the “Personal Representative“, even if a Will exists. Once appointed, many jurisdictions require the executor to post a surety bond to protect the property and assets of the estate and the heirs from misconduct by the personal representative.
  •  One common misconception of the probate process is that with the existence of a valid Will, the probate and estate can be avoided. Although the existence of a Will tends to speed up the process, probate is generally still required for any property or assets owned in the deceased’s name.

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