Detailed Answer
1. Identify Probate Assets
Begin by reviewing the decedent’s deed and title records. Real property owned solely by the decedent typically passes through probate. Property held in joint tenancy or by right of survivorship may avoid probate and not form part of the estate.
2. Open Probate Administration
File a petition in the appropriate county probate court to open an estate and appoint a personal representative. The court issues letters testamentary or letters of administration to authorize the representative to manage estate assets. See Ark. Code Ann. § 28-39-201 (Appointment of Personal Representative).
3. Inventory and Appraisement of Real Property
Within 90 days of appointment, the personal representative must file an inventory listing all probate assets, including real property, and provide an appraisal of fair market value. See Ark. Code Ann. § 28-39-203 (Inventory and Appraisement).
4. Notice to Creditors
The personal representative must publish a notice in a local newspaper and mail written notice to known creditors. Creditors then have six months from the first publication date to file claims against the estate. See Ark. Code Ann. § 28-39-206 (Notice to Creditors).
5. Petition for Sale of Real Property
If estate assets lack sufficient cash to satisfy valid claims, the personal representative may petition the court to order the sale of real property. The court evaluates necessity and authorizes sale by public auction or private contract. See Ark. Code Ann. § 28-42-101 (Sale of Real Property).
6. Pay Claims and Distribute Proceeds
After sale, the personal representative pays estate debts, funeral expenses, taxes, and administrative costs. Any remaining proceeds pass to beneficiaries under the will or under Arkansas intestacy rules.
Disclaimer: This information is for educational purposes and does not constitute legal advice.
Helpful Hints
- Verify property ownership early to confirm probate requirement.
- Meet the 90-day deadline for filing inventory to avoid court sanctions.
- Publish and mail creditor notices promptly to limit liability.
- Obtain a professional appraisal for accurate property valuation.
- Keep detailed records of all transactions and communications.
- Consult a qualified probate attorney if estate assets or debts are complex.