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Written by Dianne Rosell
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Last Updated December 12, 2008 |
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In general, when someone dies, the estate must go through probate which can be a complicated and lengthy process. But many states provide less complicated options for smaller estates. Arkansas law provides for simplified probate when the value of all property owned by the decedent at the time of death less encumbrances and excluding the value of the homestead and the statutory allowances for the benefit of a spouse or minor children, if any, of the decedent, does not exceed $100,000. The decedent's personal representative, without giving notice to creditors, may immediately disburse and distribute the estate to the persons entitled to it, and then file a closing statement with the court. |
