Estate Administration in Jonesboro, Arkansas
Estate administration, in basic terms, is the process of maintenance and distribution of a person's assets after they die.
If the person who died made and executed a valid will in Jonesboro, Arkansas, the process of estate administration typically follows the procedures and instructions laid out in the will.
Wills normally name an executor. The executor's role revolves around ensuring that the instructions in the will are implemented.
The person named as executor of an estate typically has some work ahead of them. To ensure that they truly follow through on their obligations, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a will in Jonesboro, Arkansas is silent as to who should be the executor, it is up to the court to decide who should serve in that capacity.
Typically, this will be the person who has the most to acquire from the will, or who would gain the most under Arkansas's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
When a will is silent as to who should be the executor, any person who has some direct interest in the outcome can ask to be named executor by the Jonesboro, Arkansas court.
Once an executor is appointed (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to protect its interests to the fullest extent possible. They also are required to accurately inventory the estate's debts and assets, as well as notify potential beneficiaries.
Find a Jonesboro Lawyer that Specializes in Your Area of Need:
Can a Jonesboro, Arkansas Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial difficulties that may arise, an efficient Jonesboro, Arkansas lawyer can make this process a great deal easier.