Detailed Answer
When a person dies in Arkansas, their estate must go through probate—a court-supervised process. The personal representative oversees asset inventory and distribution. Follow these steps:
1. Open the Probate Estate
File a petition and death certificate with the circuit or probate court in the county where the decedent lived. The court issues letters of appointment to the personal representative.
2. Notify Heirs and Creditors
The personal representative must notify all heirs and publish a notice to creditors per Ark. Code § 28-41-108. Known creditors get direct notice; unknown creditors learn through publication.
3. Inventory and Appraise Assets
Within 90 days of appointment, Arkansas Code § 28-43-201 requires the representative to file a detailed inventory listing real property, bank accounts, investments, personal valuables, and business interests. The court may require sworn statements and professional appraisals for real estate and high-value items.
4. Pay Debts, Taxes, and Expenses
Use estate funds to satisfy valid claims, funeral costs, administrative expenses, and state inheritance taxes. Follow creditor-claim procedures outlined in Ark. Code § 28-41-301 et seq.
5. Distribute Remaining Assets
After debts and taxes, distribute the net estate to heirs under the will or, if intestate, per Arkansas Code § 28-41-201 (Intestate Succession). Shares depend on family structure. For example, if the decedent leaves a spouse and children, the spouse receives the first $100,000 plus half of the balance; children split the remainder.
6. Final Accounting and Close the Estate
Prepare a final accounting of receipts, disbursements, and distributions. File it with the court alongside a petition for discharge. Once approved, the personal representative is relieved of duties per Ark. Code § 28-43-205.
Disclaimer: This article provides general information and is not legal advice. Consult a licensed attorney for guidance on your specific situation.
Helpful Hints
- Start the probate process promptly to meet court deadlines.
- Obtain professional appraisals for complex or high-value assets.
- Maintain detailed records of all transactions and communications.
- Communicate transparently with all heirs to reduce conflicts.
- Consult an attorney when disputes arise or if the estate is complex.