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How do I get letters of testamentary in Arkansas? Settling an Estate in Arkansas The will must be filed with the circuit court in the county where the decedent lived. An executor is appointed to oversee the estate, and the court provides letters testamentary to them.
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.
A Letter of Testamentary is a document granted to the Executor of an estate by the probate court. This document gives the Executor the authority he or she will need to formally act on behalf of the decedent. It gives the right to handle financial and other affairs related to closing out the estate.
Some ways to avoid probate proceedings in Arkansas include: Using a living trust, Qualify for Arkansas small estate laws, or. Transfer on death designations.
Letters testamentary are documents that a probate court delivers to the executor of the deceased's estate to enforce the terms of the deceased person's will. A court can issue letters testamentary only to persons who are chosen as an executor in a will.
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.
If you don't have a Will, the default order of descent goes like this: (1) full blood and adopted children of the decedent, subject to any dower, curtesy, and homestead interest of a spouse; (2) if no full blood or adopted children, then everything to a spouse of greater than three years or half of everything plus ...