Estate Administration in Searcy, Arkansas
Estate administration, in basic terms, is the process of maintenance and distribution of a person's assets after they die.
If the person who died made and executed a valid will in Searcy, Arkansas, the process of estate administration typically follows the procedures and instructions laid out in the will.
Most frequently, a will names a person to serve as executor, whose job it is to ensure that the estate is properly administered.
The executor is typically the person who stands to inherit the most money or property from the will, since this personn will have the greatest incentive to see the probate and administration process to completion.
What if The Will Does Not Name an Executor?
If a Searcy, Arkansas will does not name an executor, or no will exists or can be found, it's up to the local court to decide who should be the executor.
This is normally the person who will benefit the most if the will is executed. If there is no will (a situation identified as "intestacy"), Arkansas has a system of laws distributing the decedent's property to his or her closest living relative. In such a situation, the closest living relative has the most to gain from an orderly administration of the estate, so they will normally be appointed.
If the will doesn't name anyone as executor, or the person who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Searcy, Arkansas can apply to the court to be the executor.
Whoever ends up as the executor, it is their responsibility to serve as the personal representative of the estate. They will be responsible for taking account of all of the decedent's assets and debts, as well as notifying beneficiaries who may be estranged from the decedent, among other things.
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Can a Searcy, Arkansas Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial difficulties that may arise, an efficient Searcy, Arkansas lawyer can make this process a great deal easier.