Estate Administration in Texarkana, 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 Texarkana, Arkansas, the process of estate administration usually follows the procedures and instructions laid out in the will.
Most commonly, a will names a person to serve as executor, whose job it is to ensure that the estate is properly administered.
The executor is usually the person who stands to inherit the most money or property from the will, since this personn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a Texarkana, Arkansas will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
This is most often the person who would inherit most under the will, or under the intestacy scheme of Arkansas. Intestacy is when a person dies without having made a will, or if a will turns out to be invalid. The intestacy laws of each state determine how property is distributed in such a situation. In most states, it simply goes to the closest living relative.
If no executor is named in the will, anyone with a stake in the will can apply to the court in Texarkana, Arkansas to be the executor of the estate, if they wish.
When the executor is chosen, they serve as a sort of incarnation of the decedent's estate - the estate's legal interests become the executor's interests, and the executor is expected to protect the estate's interests as they would their own.
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Can a Texarkana, Arkansas Estate Administration Attorney Help?
If you find yourself named in a will as executor of an estate, and aren't sure how to meet your responsibilities, or where to begin, it would be a good idea to consult with an experienced Texarkana, Arkansas lawyer who can help you navigate this sometimes-perplexing process.