Detailed Answer
When an Arkansan dies, the probate process ensures estate expenses and creditor claims clear before heirs receive any property. Under Arkansas Code § 28-41-401 et seq., the personal representative (executor) must publish a notice to creditors in a local newspaper once a week for three consecutive weeks. This starts a four-month deadline for creditors to file claims. (See Ark. Code § 28-41-401.)
Next, the personal representative must prepare and file an inventory and appraisement of all estate assets with the probate clerk. Arkansas Code § 28-41-601 et seq. requires this step to give creditors and beneficiaries a full picture of the estate’s value. (See Ark. Code § 28-41-601.)
After the filing deadline, the representative reviews and evaluates all submitted claims under Arkansas Code § 28-41-501 et seq. Valid claims get paid in statutory priority: administrative costs, funeral expenses, taxes, secured debts, and then unsecured claims. Disputed claims can lead to court hearings to resolve validity.
Once all debts, taxes, and fees are paid, the personal representative files a final accounting and petition for distribution. The court reviews the accounting under Arkansas Code § 28-41-602 et seq., then issues an order approving distribution to heirs. Only after the court’s order can the remaining assets transfer to beneficiaries.
Disclaimer: This article provides general information on Arkansas probate procedures and does not constitute legal advice. Consult a qualified attorney for guidance specific to your situation.
Helpful Hints
- Publish the notice to creditors promptly to trigger the claims deadline.
- Maintain organized records of all estate transactions and communications.
- Track Arkansas Code deadlines carefully to avoid losing creditor protection.
- Seek legal advice for complex assets, disputed claims, or tax issues.
- Obtain the court’s final accounting approval before distributing any assets.