In Siloam Springs, Arkansas, probate is the process through which a Court determines if a will is valid or not.
In the probate process, a Siloam Springs, 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 determined to be valid, the court will distribute the property according to its terms.
Wills frequently name a person as the executor of the estate. If not, the court in Siloam Springs, Arkansas will name one. This is most often the adult individual who stands to inherit the most money or property from the will.
The executor is the person 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 incentive to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Siloam Springs, Arkansas
There are quite a few things that an executor is responsible for. At the outset, they are required to file the probate action with the appropriate court. No progress, let alone any final disposition of the estate, can be made until this happens.
Executors must also alert anyone with an interest in the will of the death of the decedent. Persons 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).
The executor will also have to collect and make available a list of all of the decedent's debts and assets, as well as a list of those who stand to inherit from the decedent.
Finally, 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 required for them to inherit, giving them an incentive.
How Can A Siloam Springs, Arkansas Lawyer Help?
Because this process can be fairly intricate, it is not a bad idea to consult with a knowledgeable probate lawyer in Siloam Springs, Arkansas, especially if you find yourself as the executor of an estate and don't know how to proceed.