Arkansas Sample Letter for Assets and Liabilities of Decedent's Estate
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How to fill out Sample Letter For Assets And Liabilities Of Decedent's Estate?
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FAQ
Estate administration is the overall process of managing and distributing the assets of a deceased person. In Arkansas, probate is typically required when a person dies with assets that are not jointly held or are not otherwise transferred through a non-probate means such as a trust or beneficiary designation.
The Administrator of an Estate is the person in charge of compiling assets and managing the Estate through probate court. An Administrator, or personal representative, is typically named within the Estate Plan. If the deceased did not have a Will or Estate Plan, the Administrator will be nominated by the court.
Dying Without a Will in Arkansas If there isn't a will, the court will appoint someone, usually an adult child or surviving spouse, to be the executor or personal representative. The executor or personal representative takes care of the estate of the decedent.
The role of the Administrator involves estate administration ? in short, taking care of all of the deceased's assets, debts, and taxes. They are also responsible for distributing inheritance to the beneficiaries of the estate once they have completed all other obligations.
Even if there is a valid Last Will and Testament you must go through probate court. Arkansas Code Ann 28-40-104 states, ?No will shall be effectual for the purpose of proving title to or the right to the possession of any real or personal property disposed of by the will until it has been admitted to probate.?
