Definition

Probate of an estate, also called administration, includes proving that the will is valid and appointing someone to administer the estate. The administrator, or personal representative, is responsible for inventorying property, paying debts and taxes, identifying the heirs and distributing the property.

Personal Representative

An individual must be at least 21 years old, mentally competent and eligible to be bonded to serve as a personal representative in Arkansas. A bank or trust company may also act as personal representative.

Inventory

The personal representative must complete an inventory within 60 days of being appointed. The estate inventory must list everything the deceased person owned, including, for example, real estate, personal and household belongings, business property, vehicles, bank accounts and stocks.

Claims

The representative informs creditors by publishing in a local newspaper for two consecutive weeks. The probate court must review and approve claims before they are paid.

Accounting

When all claims, taxes and distributions of assets are complete, the representative files an accounting with the probate court to close the estate.

Source:

Arkansas Bar Association, "Handbook for Personal Representatives"

Nolo, Legal Encyclopedia

More Information:

Arkansas Legal Services Partnership