Arkansas Probate Law requires that when a person dies, his assets be gathered together by his personal representative who is required to file probate proceedings and to pay legitimate bills, with Court approval, before any money is distributed to the heirs or persons named in a Will. If you do not have a Will, state law will determine to whom the assets will be distributed. Remember, you can decide that with a Will or Trust.
A Will requires probate proceedings through the Court and under the supervision of a judge. A Trust has distinct advantages over a Will in that it does not require filing with the court or court approval. It names the persons to receive your assets under the direction of a trusted person or bank whom you designate in the Trust. In other words, the Trust does not have to be probated and made public and the distribution of your estate is not a matter of public record. Since there is no Probate of a Trust, there will be no probate fees.
At The Law Offices of Darren A. Gibbs we have practiced law in Northwest Arkansas and throughout the State of Arkansas. Our attorneys are people friendly and well educated and experienced toward advising clients in many areas of the law.
Contact us today if you need legal assistance with any of the following:
Call Attorney Darren Gibbs today at 479-521-7050 to arrange your initial consultation.