The grief you experience when a family member or loved one passes away can last for weeks, months, even years. It can be difficult to focus on anything else in the immediate aftermath of a loss. Someone must oversee the legal process known as probate that is required following a death. If you find yourself responsible for probating an Arkansas estate, our experienced probate attorneys at Wilcox Attorneys, PA can help guide you through the process.
What Is Involved in the Probate Process?
Most people leave behind an estate when they pass away. An estate may be modest, consisting of nothing more than a simple bank account, personal belongings, and a vehicle or it might include high value complex assets, such as a business, real property, and investment accounts. Regardless of the size and value of an estate, the law typically requires the estate to go through the legal process referred to as “probate.” Probate serves several important purposes, including the authentication of the decedent’s Last Will and Testament (if one was left behind), inventorying and valuing assets, paying creditor claims and litigating disputes, and eventually distributing estate assets to the intended beneficiaries and/or heirs of the estate.
Steps to Take If You Are in Charge of Probating an Estate in Arkansas
Someone must be responsible for overseeing the probate of an estate. If the decedent left behind a Will, the person appointed as the Executor in that Will is who the decedent chose to administer the estate. If the decedent died intestate (without a Will), a family member or close friend usually volunteers to act as the Personal Representative during probate. If you find yourself responsible for probating an estate in Arkansas, the following steps will help you get the process started:
- Locate the Will: Look for an original signed copy of the decedent’s Will and other estate planning documents, such as life insurance policies, trust agreements, and asset lists.
- Consult with an estate planning attorney: An estate planning attorney can help you decide if formal probate is necessary and, if it is, help you navigate the legal system throughout the process. If an alternative to formal probate is an option, an estate planning attorney can explain how to make use of that option.
- Initiate probate: To get the probate process started you will need to file a petition along with the decedent’s Will and a certified copy of the decedent’s death certificate which can be obtained through the Arkansas Department of Health.
- Inventory and value assets: Creating an inventory of the estate assets is a wise idea, even if the court does not require one. For each asset, you need a date of death value which may call for the assistance of professional appraisers.
- Notify creditors: The law requires you to notify known creditors directly and to provide notice to unknown creditors via publication in a local newspaper. Those creditors then have a limited amount of time within which to file a formal claim against the estate which you will review and approve or deny.
We Can Help You with Arkansas Probate
Navigating the legal steps necessary to probate an estate while simultaneously going through the grieving process can be extremely challenging. Our experienced and compassionate probate attorneys in Northwest Arkansas would be honored to help you through the process. Contact Wilcox Attorneys, PA by calling 479-443-0062 or by sending us a message to schedule a free consultation appointment.