Arkansas Small Court Affidavit Creditor With Balance

State:
Arkansas
Control #:
AR-EB723
Format:
Word; 
Rich Text
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Description

Under Arkansas statute, a party entitled to the proceeds of an estate may claim said proceeds by filing a small estate affidavit. The affidavit must state, among other things (please see below), that forty-five (45) days have passed since the death of the decedent, that the estate is valued at less than $100,000, and that all claims against the estate have been paid. After the filing of this affidavit with the clerk for the probate court, and a finding that the below statute has been complied with, the probate judge will issue an order releasing the proceeds of the estate.

How to fill out Arkansas Small Estate Affidavit For Estates Under $100,000?

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FAQ

A financial affidavit is a written statement that shows your income, expenses, assets, and liabilities. A financial affidavit is a complete picture of your financial situation at the time that you (the affiant), signs the document. Financial affidavits are presented to courts under oath.

Arkansas also places a five-year statute of limitations on debt collection. Debt older than five years does not have to be honored.

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.

The estate executor must attach a copy and pay a $25 filing fee to file the affidavit in the probate court clerk's office. If the decedent owned property, a death notice and affidavit must be published in a local, widely-distributed newspaper within 30 days of the filing.

Arkansas has a simplified probate process for small estates. To use it, an executor files a written request with the local probate court asking to use the simplified procedure. The court may authorize the executor to distribute the assets without having to jump through the hoops of regular probate.

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Arkansas Small Court Affidavit Creditor With Balance