Wills and Probate
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Arkansas Wills and Probate
The probate process is tedious and complex, with strict deadlines and penalties for missteps—a process that can be especially hard to undertake when you are grieving the loss of a loved one.
Fortunately, you do not have to go it alone. An Arkansas wills and probate attorney can navigate the Arkansas probate process for you, easing the burden and giving you peace of mind that all necessary steps are being taken.
How Can an Arkansas Probate Lawyer Help?
Simply stated, probate is the process by which a deceased person’s estate is finally settled. It is more complicated and time-consuming if the person did not make a will, especially for large estates and complex circumstances. In the absence of a will, the estate is divided and disbursed according to the laws of intestate succession, which can be rigid and harsh, with inheritance being divided in ways the person may not have preferred. But even if there is a will, it can be a cumbersome and lengthy process. And disputes sometimes still arise.
As part of the process, your will needs to be validated, a personal representative named, assets inventoried, and debts settled. Plus, there is paperwork to be filed nearly every step of the way and taxes to take into account. Arkansas attorneys who deal in wills and probate are not only knowledgeable about how the process works in that state, but can make informed decisions to help maximize the value of an estate. And the sooner an attorney is involved, the better.
What Services Do Arkansas Will Attorneys Provide?
Will and probate lawyers in Arkansas can flex their professional knowledge and acumen through every aspect of estate planning, including:
- Will preparation—A will outlines how you wish for your assets to be distributed upon your death.
- Trust creation—There are a number of different types of trusts that offer advantages such as more specific control over how or when assets pass to your heirs, reduced taxes, and transfer of property without the hassles of probate.
- Asset inventory—An important first step toward planning for your estate or settling someone else’s is enumerating money and other assets and assessing their value.
- Asset planning—A wills attorney can help you strategize how to handle different types of assets to maximize their value as they pass to heirs.
- Tax planning—Estate taxes, also know as the “death tax,” can take a huge bite out of inheritance.
- Estate administration—This includes all the duties of the probate process, such as collecting assets, posting notices to creditors, paying debts and so forth.
- Probate litigation—Disputes about the validity of a will or the fairness of how it was administered sometimes end up going to trial.
- Alternative dispute resolution—To avoid trial or as a stipulation of a will, parties may seek mediation or arbitration to settle disputes.
- Providing notice to potential estate creditors—As part of probate, creditors must be given reasonable and timely notice to file claims against an estate before money or other assets can be disbursed to heirs.
- Conservatorships—In the event that a person is unable to make financial or other important decisions, the court may appoint a conservator.
These are just some examples. Arkansas will lawyers can handle the full spectrum of estate planning and probate services.
Contact an Arkansas Wills and Probate Lawyer Today
Whether you are planning for your own Arkansas estate or you're involved in the probate process for another's estate, it pays to have an Arkansas wills and probate attorney on your side. These professionals can help you and your family minimize fees, taxes, and headaches, and make the most of treasured property and other assets. Call now to speak with an Arkansas wills and probate lawyer at 877-913-7222.