In Prescott, Arkansas, probate is the process through which a Court decides if a will is valid or not.
In the probate process, a Prescott, Arkansas probate court has various 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 frequently name a person as the executor of the estate. If not, the court in Prescott, 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 typically appointed the executor, because they will have the most motivation to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Prescott, Arkansas
The executor has many duties regarding the will. First, they have to truly initiate the probate proceedings, which must be done before the will is effectuated.
They additionally are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
There may be numerous 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 challenging to find, but they need to be found, nonetheless. To that end, the executor is obliged 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.
Lastly, executors have to actually put forth the effort to establish that a will is valid. As the sole legal representative of the estate, this is their job, and is obligated for them to inherit, giving them an incentive.
How Can A Prescott, Arkansas Lawyer Help?
Because of the difficulties involved in probate, it would be a reliable idea to consult with and retain a Prescott, Arkansas attorney who specializes in probate, especially if you are the executor of an estate.