Detailed Answer
When a person dies leaving personal property under $100,000 in Arkansas, heirs or other interested parties may use a small estate affidavit to collect and distribute assets without formal probate. This process appears in Arkansas Code § 28-41-101 et seq. and applies only to personal property, not real estate.
1. Determine Eligibility
Arkansas law defines a “small estate” as personal property whose gross value does not exceed $100,000, excluding liens or encumbrances. (See Ark. Code Ann. § 28-41-101.) You may use the affidavit if you are:
- An heir or beneficiary under a will
- A surviving spouse
- A creditor or other person entitled to property
You must wait at least 30 days after the decedent’s death before filing. The decedent must not have an existing probate administration.
2. Prepare the Small Estate Affidavit
The affidavit must include:
- Decedent’s full name, death date, and last Arkansas residence
- Statement that no administration is pending
- An itemized list of personal assets and their fair market values
- Name, relationship, and address of each heir or beneficiary
- Signature of the affiant, notarized
See form requirements at Ark. Code Ann. § 28-41-102.
3. File and Serve the Affidavit
- File the original with the circuit clerk in the county of the decedent’s last residence.
- Pay the clerk’s filing fee.
- Provide a certified copy to any person holding decedent’s property (banks, brokers, etc.).
4. Collect and Distribute Assets
After filing, the holder of personal property must release it upon receiving the certified affidavit. The affiant then distributes assets to heirs according to the will or, if there is no will, under Arkansas intestacy rules:
- If the decedent left a spouse and children, the spouse receives one-half; children share one-half. (Ark. Code Ann. § 28-9-202.)
- If the decedent left only a spouse, the spouse takes all.
- If no spouse, children share equally.
Keep records of distributions in case of later questions or claims.
Helpful Hints
- Confirm total personal property value is under $100,000.
- Wait the full 30-day period after death before filing.
- Use official forms or follow statutory language exactly.
- Retain certified copies of filed affidavits and receipts.
- Watch for creditor claims up to six months after publication.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for advice regarding your situation.