Claimed Lawyer ProfileQ&A
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6 Questions Answered
- Q. Does a will for home have to be probated in Ar?
- A: The answer depends on facts that you didn't provide. If you can provide more details about the owner, the home, the owner's heirs, and the owner's Will then it might be possible to answer. A probate is not always required or necessary to transfer real estate from an estate but it depends on many factors. You may want to consult with an attorney, knowledgeable in probate, in the county where the home is located. The Arkansas Bar Association can help you locate attorneys in the specific area and they can be reached at 1-800-609-5668. This is a general answer, not legal advice, and may not apply to your specific situation.
- Q. My aunt passed away in Jonesboro recently. Will her will be putlic record? If so, where?
- A: In Arkansas, if a probate is filed then all documents filed in the probate, including a Will, will be publicly available from the county clerk. By law if there are over $100,000 in assets in a probate estate then a probate must be filed. If the probate estate is smaller then a probate may not be required but may still be necessary in order to validate a Will and/or distribute certain types of assets. Assets which typically are in the probate estate and may require probate to transfer include: financial accounts with no beneficiary or payable/transfer-on-death designation, vehicles titled in the decedent name, or real property without a survivorship rights. Assets which typically are not in the probate estate, and therefore transfer outside of probate include: life insurance, and retirements accounts with beneficiary designations, financial accounts with payable/transfer-on-death designations, assets that are transferred to a revocable living trust, assets which are held jointly with survivorship, such as marital property, and joint financial accounts. If you may be entitled to a distribution from your aunt's estate, or if your aunt owed you money at her death then you may have standing to file a probate yourself. Contested probates can be very expensive so you should consult an Arkansas attorney knowledgeable in probate law before taking any action. This is a general answer, not legal advice, and may not apply to your specific situation.
- Q. My Mom die she has no will how doe the law in arkansas work for this? there is me sis and half bro. he has a child?
- A: If a person dies with no Will and has assets in Arkansas then those assets would be subject to division according to Arkansas law. In general the assets would be divided between the person's children and the person's spouse. Unless a step-child is adopted by the person, they are usually not considered a child of the person. But there are many exceptions in the law and I would need more facts to provide a accurate answer. This is a general answer, not legal advice, and may not apply to your specific situation.
- Q. In the state of AR. Can I intentionally leave a child out of my will
- A: In general, if you have a child and you don't mention that child in your Will then that child may claim their statutory share of your estate. If you intend to disinherit a child then you must mention that child in your Will and you should state you intent to disinherit them. This is why it is very important to review your Will and other estate planning documents on a regular basis to ensure that you have accurate information and comply with state laws. This is a general answer and may not apply to your specific circumstances.
- Q. How long does the bond last in a trust?
- A: Without more information it may not be possible to answer your question. If you are referring to a fiduciary bond that may be required of the Trustee to protect trust assets, that is typically renewed annually. If you are referring to a bond held in the trust, then it depends on the type of bond, and on the specific language of the trust itself. A trust can exist after the death of the grantor that created the trust. How long it lasts depends upon the specific language of the trust. This is a general answer and may not apply to your specific circumstances.
- Q. Does arkansas have death estate tax?
- A: Arkansas does not have a state estate tax. An estate may owe federal estate taxes depending upon the type of assets and size of the estate. An estate may also have to pay federal and state income taxes on income after the death, until the estate has been settled. This is a general answer and may not apply to your specific circumstances.
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