Legal Question in Wills and Trusts in Arkansas
What should I do next
My dad recently passed away, I found out he has a will dating back to 1990. It only talks about the house I grew up in. There are other things that he has, It states in the will that his exwife gets the house, provided she is still living or it goes to me. I live in a different state and don't want the house but my half sister does. I was told that my exstep-mother & I would have to sign over the deed. My dad also has a truck being held by the bank until something is settled. He also has a checking account that is frozen right now until an execuator is determined. The will does not state anything about any other assets. He did have 401k and life policy listing me as the sole benificary. Will this play a part in clearing up any of his upaid debts or will it come directly to me? All bills are coming to his house are being postmarked ''deceased return to sender'' and going back. Will these companies file a claim on his estate? Will they approach the bank? Will his 401K & life policy go into probate or will it come directly to me? Will all of the other assets go into probate before anything is determined? What should I expect?
2 Answers from Attorneys
Re: What should I do next
... It appears that an Estate should be opened if one has not been opened to date... Call
Re: What should I do next
First of all, any insurance and retirement policies that have a beneficiary listed will go directly to the beneficiary. That being you in this case. It does not go through the estate.
Why has an executor not been named yet? Do you have anyone handling the estate? It will have to be opened before some of these things can be determined.
It is likely that all the rest of his assets will have to go through probate. The will should say something about what to do about debts. If it does not, they will have to be dealt with one at a time.
I can help you with all these questions and what needs to be done next. You can contact me by phone or email if you have some more questions or you need any more help. I handle estates regularly in my law practice. I don't charge anything for an initial consultation, or email questions.
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