Probate Attorney in North Little Rock, Arkansas
In North Little Rock, Arkansas, probate is the process through which a Court decides if a will is valid or not.
In the probate process, a North Little Rock, 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 North Little Rock, 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 inducement to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in North Little Rock, 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.
They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.
If the decedent was even reasonably well-off financially, it's likely that they'll have significant amounts of both debts and assets. The executor is tasked with creating 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 necessary court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
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Because this can be (though isn't always) a fairly perplexing process, it's a good idea to get a reputable probate lawyer in North Little Rock, Arkansas, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.