In El Dorado, Arkansas, probate is the process through which a Court decides if a will is valid or not.
In the probate process, a El Dorado, Arkansas probate court has many duties, including ruling on a will's validity, making an inventory of the estate's assets, and making note of all the decedent's debts. Once the will is decided to be valid, the court will distribute the property according to its clauses.
Wills normally name the person who is to serve as executor of the estate. If no executor is named, the El Dorado, Arkansas court will appoint an executor. This is normally the person who stands to gain the most if the will is found to be legitimate.
The executor is the person who has to get the ball rolling on the probate process, and basically serves as a living personification of the decedent's estate. It is their job to defend the estate from debtors (if a legitimate defense for the debt exists, of course), and wind up any legal proceedings that the decedent might have been immersed in. If an executor needs to be appointed, a court normally chooses the person who will inherit the most if the will is given effect, since that person will have the most motivation to carry out the duties of the executor.
Duties of the Executor in El Dorado, Arkansas
The executor has many duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be done before the will is given effect.
Furthermore, it's the executor's job to notify all concerned parties that the person who made the will has died. "Interested parties" are typically people who are named in the will, or who would inherit the estate if the decedent had died without a will.
If the decedent was even slightly well-off financially, it's likely that they'll have considerable amounts of both debts and assets. The executor is tasked with formulating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the required court papers, and, if necessary, hiring an attorney for advice. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A El Dorado, Arkansas Lawyer Help?
Because of the intricacies involved in probate, it would be a seasoned idea to consult with and retain a El Dorado, Arkansas attorney who specializes in probate, especially if you are the executor of an estate.