The probate process can be relatively simple or more complicated depending on a number of circumstances. This can depend on the types of assets that are included in the probate estate, the debts of the decedent, as well as the willingness of both parties to cooperate. We can assist you throughout the probate process regardless of the nature and complexity. At Pickell Law Firm, we will work closely with you to ensure that no detail is missed, that the estate is distributed as desired, and to make sure that any disputes that may arise are handled professionally.
Probate is a legal process that occurs after a person is deceased which determines how the person’s heirs take legal title over the assets.
Probate is the official way that an estate gets settled under the supervision of the court. A person, usually a surviving spouse or an adult child, is appointed by the court if there is no Will, or nominated by the deceased person's Will. Once appointed, this person, called an executor or Personal Representative, has the legal authority to gather and value the assets owned by the estate, to pay bills and taxes, and, ultimately, to distribute the assets to the heirs or beneficiaries.
Probate on a small estate that includes the three-month notice to creditors could take six months or less. A regular estate that includes the six-month notice to creditors will probably take nine to 12 months to complete. Majority of the time the process is about a year from start to finish, but can be much longer if contested.
The a way to avoid the probate process is to take part in estate planning before the person is deceased. This will also depend on the assets that will need to be distributed. If the person owns property, the only way to avoid probate is through a trust. Bank accounts, stocks and bonds, and other designated assets can be assigned beneficiary designations to avoid the probate process as well.
No matter what stage of life you're in, it’s never too early to make your wishes known. Our Little Rock and Pine Bluff attorneys are here to help guide you through this process, helping you understand terms, fill out forms, and more. At Pickell Law Firm, we will give you that confidence that your estate is protected.
An estate plan is a legal strategy designed to anticipate and arrange for the care and disposition of your property at death or permanent incapacitation.
Your estate plan typically includes a variety of legal documents, such as:
A living will provides direction on healthcare issues, such as how you want to be treated if you are terminally ill, on life support, or are unable to do so for yourself.
The last will and testament details out how you would like your assets to be distributed after you pass.
You can designate a guardian for your children in the event that you die or become incapacitated.
You can make sure that your financial assets have a beneficiary.
The executor of your estate will make sure that your wishes are followed and your assets are distributed as outlined in your will.
You will be able to choose someone to be responsible for your care and making decisions on your behalf for both healthcare and financial decisions.
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