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The Question(s) About An Arkansas Will That Everyone Must Be Able To Answer
Why Are These QuestionsIMPORTANT?
• Each client’s needs are different
• The clock is always ticking…
• Each client’s needs are different
• The clock is always ticking…
DO YOU HAVE A VALID WILL?
Trick question
Actually everyone has a “Will”…if you don’t do it yourself, the state has made one for you – called “intestate succession”
And if the state can’t find anyone to inherit your estate, the county where you lived gets it by “escheat!”
Trick question
Actually everyone has a “Will”…if you don’t do it yourself, the state has made one for you – called “intestate succession”
And if the state can’t find anyone to inherit your estate, the county where you lived gets it by “escheat!”
Trick question
Actually everyone has a “Will”…if you don’t do it yourself, the state has made one for you – called “intestate succession”
And if the state can’t find anyone to inherit your estate, the county where you lived gets it by “escheat!”
Surviving children are
FIRST
DO YOU HAVE A VALID WILL?
The descendants of any
predeceased child divide the entire heritable
estate
Surviving spouse is SECOND
If there are no surviving children or descendants of children, then the surviving spouse
(in addition to taking dower or
curtesy) takes the entire heritable
estate
THERE IS, HOWEVER, AN EXCEPTION TO THIS RULE:
if the decedent was married to the surviving spouse for less than three years, the surviving spouse’s share (in addition to dower or curtesy) is limited to fifty percent
of the heritable estate
And the rest of the story…
Surviving parents (share the entire estate equally if both survive)
Brothers and sisters (and descendants of predeceased brothers and sisters)
Grandparents, uncles and aunts (and descendants of predeceased uncles and aunts)
Etc., etc….until “ESCHEAT!”
Escheat
If no one is capable of inheriting under any of the above categories, then the estate escheats to the county in which the decedent resided at death
Ark. Code §§ 28-9-214, 28-9-215
You are a widow or widower. Your parents are deceased. You have only one child but you have been estranged from him or her for years. The probate court, despite its
best efforts, cannot locate your estranged child.
Example:
GETS YOUR ESTATE!!
THE COUNTY
DO YOU HAVE A VALID WILL?
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
DO YOU HAVE A VALID WILL?
Minimum AgeWritten Document
Required
Nuncupative Wills (Oral)
Holographic Wills (Handwritten, Unwitnessed)
Number of Witnesses Required
Self-Proving Affidavit
Statutory Form for Self-Proving Affidavit
18
Yes
No
Yes
2
Yes
Yes
WHAT IS A “VALID” WILL?
Have you moved to another state since it was prepared?
Have there been any “life changes” in your family since it was prepared?
Have there been any “life changes” in your family since it was prepared?• Divorce
• Birth• Death• Remarriage
Have you moved to another state since it was prepared?
Have there been any “life changes” in your family since it was prepared?
Have there been any “life changes” in your family since it was prepared?• Divorce
• Birth• Death• Remarriage
WHAT IS A “VALID” WILL?
Have you moved to another state since it was prepared?
Have there been any “life changes” in your family since it was prepared?
Have there been any “life changes” in your family since it was prepared?• Divorce
• Birth• Death• Remarriage
WHAT IS A “VALID” WILL?
Do YOU Have aValid Will?
We Can Help You Prepare It
Do YOU Have aValid Will?
Click to visit: Arkansas-EstatePlanning.com
