When someone passes away in Arkansas, the probate process distributes their assets and addresses outstanding debts. However, Arkansas law sets a specific order of priority for these debt payments. The estate’s personal representative must follow this order to stay in...
During probate, a person’s assets are distributed to their beneficiaries. This is just one aspect of the process, but it is very important. In some cases, they will have left an estate plan that directly addresses specific assets, such as a family home or a financial...
When it comes to probate in Arkansas, joint assets are handled differently than other types of property. Joint assets, such as joint bank accounts, real estate, and other property held by two or more individuals, typically do not need to go through the full probate...
Ancillary probate is a legal process that occurs when a deceased person owns property in more than one state. When this happens, the primary probate case takes place in the state where the person lived, while an additional probate process is required in any other...
Probate settles a person's estate after their death. The rules surrounding jointly owned property can be complex, especially when survivorship rights are involved. Understanding how probate interacts with these situations clarifies what happens to property ownership...
Executors have a significant role in probate administration. Their job is to take actions that ensure the honoring of the deceased's wishes. However, conflicts of interest can arise, putting the executor in a challenging position. Recognizing and addressing these...
Probate is often misunderstood and surrounded by numerous myths. Knowing the facts helps alleviate concerns and misconceptions. Myth 1: Probate always takes a long time Many people believe probate takes years to complete. While some cases can take longer, many probate...
Estate administration is a crucial process for managing and finalizing the affairs of someone who has passed away. In Arkansas, beneficiaries need to understand this process well. By taking the time to learn about the estate administration process, you can reduce...
The fact that some assets do not go through probate probably gives you some peace of mind. Insurance policies are a prime example. However, there are instances where insurance, such as a life insurance policy, could end up in probate in spite of your hopes. To...
Wills are not intended to be permanent documents. In fact, most people must update their wills many times over the years to ensure they continue to meet their needs. Although updating your estate plan might not be the most exciting task on your to-do list, doing so is...