Estate Administration in Maumelle, 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 Maumelle, 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 guaranteeing 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 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 will in Maumelle, Arkansas is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
Typically, the person chosen to be executor is the one who would benefit most under the will, or under Arkansas's intestacy laws. "Intestacy" refers to a situation in which a person dies without a will, or "dies intestate." Every state has laws to address this situation, and there isn't a lot of variation from state to state. Typically, the decedent's property will go to his or her closest relative, and if absolutely no living relatives can be found, it will go to the state.
When a will is silent as to who should be the executor, any individual who has some direct interest in the result can ask to be named executor by the Maumelle, Arkansas court.
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 safeguard the estate's interests as they would their own.
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Can a Maumelle, Arkansas Estate Administration Attorney Help?
If you are the administrator of an estate, and are not a legal and/or financial professional, you might confront legal or tax issues with which you are unfamiliar. A Maumelle, Arkansas attorney would be quite helpful in such a situation.