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In Arkansas, the following assets are subject to probate: Solely-owned property: Any asset that was solely owned by the deceased person with no designated beneficiary is subject to probate. This could include bank accounts, cars, houses, personal belongings, and business interests.

Is Probate Required in Arkansas? Probate is required in Arkansas if the person who died was the sole owner of the property. There are two types of probate with one being for smaller estates and less formal. A small estate is defined as one where the assets are less than $100,000.

Arkansas's probate code requires estates to go through probate if the decedent owned property, had minor-aged children, or bequeathed valuable assets to beneficiaries, whether or not they died without a will.

You must file an Affidavit for Collection of Small Estate with the probate clerk of the circuit court in the county where the deceased last lived. The affidavit can be filed by one or more of the people receiving proceeds from the estate (called distributees).

Some ways to avoid probate proceedings in Arkansas include: Using a living trust, Qualify for Arkansas small estate laws, or. Transfer on death designations.

Code Ann. § 28-41-101: You can qualify for the small estate probate process if the total value of the estate does not exceed $100,000 (not including encumbrances, homestead exemptions, and statutory allowances). However, there is a 45-day waiting period.

An Arkansas small estate affidavit is used to collect the personal property of a person who died in situations where the person had an estate valued at less than $100,000. It cannot be filed until 45 days have elapsed since the death of the decedent.

Small Estate laws were enacted in Arkansas in order to allow heirs to receive the property that the deceased wanted them to have without the long process of probate. In Arkansas, you may be able to avoid the probate process or at least shorten the process if certain conditions are met.

These conditions include: the total value of the estate is less than $100,000 and claims (debts or judgments) against the estate have been paid?there are other exclusions and exemptions from this amount, such as the homestead exemption and spouse and child allowances.