In Mountain Home, Arkansas, probate is the process through which a Court decides if a will is valid or not.
In the probate process, a Mountain Home, Arkansas probate court has several 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 often name a person as the executor of the estate. If not, the court in Mountain Home, Arkansas will name one. This is most often the adult individual who stands to inherit the most funds or property from the will.
The executor is the individual who initiates probate proceedings. The person who stands to inherit the most from the will is usually appointed the executor, because they will have the most reason to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Mountain Home, Arkansas
Executors of estates have a several distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be finalized before the property in an estate can be released according to the terms of the will.
Executors must also inform anyone with an interest in the will of the death of the decedent. People with an interest in the outcome of probate are those who are named in the will, or anyone who would likely inherit if the will is invalidated (close relatives, for the most part).
There may be various people who are entitled to take under a testator's will, with which the testator may have fallout out of touch years ago. This can make them difficult to find, but they need to be found, nonetheless. To that end, the executor is required to make a list of everyone who might be able to inherit, whether they're named in the will, or closely related to the testator. Furthermore, they have to make known all of the decedent's major assets and debts.
Furthermore, the executor is obligated to take the lead in proving the validity of the will, effectively acting as the living embodiment of the decedent's estate. The executor is usually the person who will inherit the most once the will goes through probate, so they have a good reason to put in the work to do this.
How Can A Mountain Home, Arkansas Lawyer Help?
Because of the complexities involved in probate, it would be a reputable idea to consult with and retain a Mountain Home, Arkansas attorney who specializes in probate, especially if you are the executor of an estate.