Estate Administration in Harrison, Arkansas
Estate administration, in basic terms, is the procedure of maintenance and distribution of a person's assets after they die.
If the person who died made and executed a valid will in Harrison, Arkansas, the process of estate administration normally follows the procedures and instructions laid out in the will.
Wills usually name an executor. The executor's role revolves around guaranteeing that the instructions in the will are implemented.
The person named as executor of an estate normally has some work ahead of them. To ensure that they really follow through on their commitments, 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 Harrison, Arkansas will does not assign anyone to serve as executor, or there is no will, the court has to choose someone to fill that role.
This is most commonly the person who stands to gain the most from the will, or who would inherit the most under Arkansas's intestacy laws. Intestacy is the system that every state has in order to deal with the property of people who die without a will. It normally distributes the property to the closest living relatives of the decedent, assuming they can be located.
If no executor is named in the will, anyone with a share in the will can apply to the court in Harrison, Arkansas to be the executor of the estate, if they wish.
Once an executor is finally named, he or she becomes responsible for serving as the living embodiment of the estate, utilizing all legal means to protect the estate's interests (such as mounting plausible legal defenses against creditors).
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Can a Harrison, 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 accomplished Harrison, Arkansas lawyer who can help you navigate this sometimes-convoluted process.