Arkansas Inheritance Loans and Probate Advance Law
If you are planning your estate or if you are an heir or beneficiary of an estate, you are probably very curious about probate. Many people want to know how to avoid probate, and if they can’t, how to get through the process as quickly and easily as possible. You may also be interested in getting a probate advance on your inheritance, so you can use the funds now instead of waiting through the entire process. This guide aims to explore the options that may be available to you no matter where in the probate process you are.
What Are Arkansas Probate Laws?
Arkansas probate laws ensure that the last will and testament of the deceased are honored and that the deceased’s final debts and taxes are paid. It protects the interests of those who are owed a debt as well as those who will receive a portion or all of the estate.
A will and estate attorney can help you plan your estate, so most of your assets can bypass probate to go straight to your loved ones, and a probate attorney can help the executor of the will complete their job successfully and ensure the rights of interested parties are protected. Your attorney will be able to help you fill out and file all the legal documents required for probate, as well as ensure you get the right signatures and submit all documentation within the deadlines.
What is The Probate Process in Arkansas?
The probate process in Arkansas is much the same as other states. There are a few basic steps that must be completed for probate no matter where you live.
- An executor is appointed to manage the decedent’s estate and complete the requirements of probate. Typically, the executor is named in the will, but if an executor is not named, or if the decedent died without a will, one will be appointed by the court. When appointed by the court, the person may be called a personal representative or the administration of the estate.
- The validity of the will must be proven to the probate court. Be aware that every state has its own definitions of what makes a will valid, so you need to know the laws specific to Arkansas.
- All property and assets of the estate must be inventoried, and a list of that inventory is to be provided to the court.
- The value of the estate is appraised.
- The estate pays the final taxes and debts of the decedent.
- What remains of the estate is passed to the heirs and beneficiaries in according to the will, and if there is no will, the court will distribute the estate to the heirs according to Arkansas law.
While in probate, an executor of a will does not have control of the estate, they only manage its interests. Estate property cannot be sold, accessed, or distributed until they are released from probate by the court.
What Property Will Go Through Probate in Arkansas?
What property will have to go through probate in Arkansas is a common question. The fact is, estate planning and living trusts can allow many types of property to bypass the probate system and go straight to the heirs. For example, rights of survivorship and payable-upon-death designations for real estate, vehicles, and some other property will allow these assets to go straight to the beneficiary without probate first. Without estate planning, the most property will have to go through the probate process, and if the person died without a will, their property will have to go through probate.
How Can You Avoid Probate in Arkansas?
Many people want to know how you can avoid probate in Arkansas, especially since there are costs and fees that the executor or beneficiaries might have to pay if the estate cannot. The probate process also tends to be very long. Though some simple probate cases may only take months to complete, some cases will take years. The average probate case in Arkansas might take more than 12 months to complete. If the will is contested, the length of time of probate may be greatly extended. To circumvent the process, many people use a living trust to assign their assets to their loved ones before they die. Then, after death, the assets are transferred. Until death, the property owner maintains full control.
How Can You Access Arkansas Inheritance Funds Immediately?
Many beneficiaries want to know how you can access Arkansas inheritance funds immediately. There are ways to gain fast and easy access to inheritance funds. In fact, some beneficiaries and heirs may qualify to receive a portion of their inheritance in as little as a few days.
Probate Advance provides heirs and beneficiaries fast and easy access to their funds in a safe and simple manner. There is no interest and no repayment plans because there is no loan. All personal information is secure, and transactions are safe. Best of all, there are no rules on how you can spend your money. Probate Advance gives heirs and beneficiaries the option of access their inheritance money in as little as two days as opposed to waiting a year or more for an estate to go through the probate process. It only takes a minute to find out if you qualify.
Do You Qualify for an Inheritance Cash Advance?
To find out if you qualify for an inheritance cash advance is as easy as filling out a form. If you are an heir or beneficiary who will inherit at least $12,000, you may qualify. You can receive your money in just a few days and use it on your home or vehicle, a vacation you always wanted, or save it for an emergency. It doesn’t matter. It’s your money. Why wait when you can have it in as little as 48 hours.
What Do You Need for a Probate Advance in Arkansas?
What you need for a probate advance in Arkansas is very simple. We will ask some basic personal information to confirm you are a beneficiary or heir of an estate and information regarding where you want your money to be deposited or sent. You choose how much of your inheritance you want now, and you can have it in days, not years.
What Areas of Arkansas Qualify for an Inheritance Loan?
We offer inheritance loans in all counties and cities in Arkansas including (but not limited to):
- Little Rock
- Fort Smith
To learn more about Arkansas probate laws and the rules on inheritances, check out our resources.