Printable Small Estate Affidavit Template for Arkansas Fill Out Form Online

Printable Small Estate Affidavit Template for Arkansas

The Arkansas Small Estate Affidavit is a legal document that allows individuals to settle the estate of a deceased person without going through the formal probate process. This form simplifies the transfer of assets when the total value of the estate falls below a certain threshold. By using this affidavit, heirs can claim property and settle debts efficiently, ensuring a smoother transition during a difficult time.

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Dos and Don'ts

When filling out the Arkansas Small Estate Affidavit form, it's important to follow certain guidelines to ensure a smooth process. Here are six things to keep in mind:

  • Do: Provide accurate information. Double-check names, dates, and addresses.
  • Do: Include all required signatures. Make sure everyone involved has signed where necessary.
  • Do: Keep a copy of the completed affidavit for your records.
  • Do: Submit the form to the appropriate court. Ensure it goes to the right location for processing.
  • Don't: Leave any sections blank. Fill out every part of the form to avoid delays.
  • Don't: Forget to check state-specific requirements. Each state may have different rules regarding small estate affidavits.

By following these tips, you can help ensure that your affidavit is processed efficiently and correctly.

Important Details about Arkansas Small Estate Affidavit

What is the Arkansas Small Estate Affidavit?

The Arkansas Small Estate Affidavit is a legal document that allows heirs to claim property of a deceased person without going through the full probate process. This form is designed for estates that meet specific criteria, making it easier and faster for heirs to access the deceased's assets.

Who is eligible to use the Small Estate Affidavit?

To qualify for the Small Estate Affidavit in Arkansas, the estate must meet the following criteria:

  • The total value of the estate must be $100,000 or less, excluding certain exempt property.
  • The deceased must have been a resident of Arkansas.
  • No pending probate proceedings should exist for the estate.
  • The person filing the affidavit must be an heir or a legal representative of the estate.

How do I complete the Small Estate Affidavit?

Completing the Small Estate Affidavit involves several steps:

  1. Obtain the Small Estate Affidavit form from a reliable source, such as the Arkansas Secretary of State's website or a legal office.
  2. Fill out the form with accurate information, including details about the deceased and the heirs.
  3. Have the affidavit notarized to ensure its validity.
  4. Submit the completed affidavit to the appropriate financial institutions or property holders to claim the assets.

What assets can be claimed using the Small Estate Affidavit?

The Small Estate Affidavit can be used to claim various types of assets, including:

  • Bank accounts
  • Real estate
  • Vehicles
  • Personal property

However, certain assets, such as life insurance policies with designated beneficiaries, do not fall under this process.

What happens if the estate exceeds the Small Estate limit?

If the total value of the estate exceeds $100,000, heirs must go through the formal probate process. This process involves filing a petition with the probate court, which can be more time-consuming and costly. It is advisable to consult with a legal professional to navigate the complexities of probate in such cases.

Example - Arkansas Small Estate Affidavit Form

Arkansas Small Estate Affidavit

This Arkansas Small Estate Affidavit is executed in accordance with Arkansas Code Annotated § 28-41-101 et seq. This document allows heirs to collect or distribute the assets of a deceased person without the need for formal probate proceedings, provided the estate qualifies as a small estate.

Affidavit Information:

Be sure to fill in all fields accurately. This information may be required by financial institutions or other entities to process claims related to the deceased's estate.

  • Affiant’s Full Name: _____________________________
  • Affiant’s Address: _____________________________
  • Affiant’s Relationship to Decedent: _____________________________
  • Decedent’s Full Name: _____________________________
  • Decedent’s Date of Death: _____________________________
  • Decedent’s Last Known Address: _____________________________

Estate Description:

The small estate must consist of personal property valued at $100,000 or less, excluding certain debts and property types. Below, please provide a brief description of the assets included in the estate.

  • Asset 1: _____________________________ (Value: $__________)
  • Asset 2: _____________________________ (Value: $__________)
  • Asset 3: _____________________________ (Value: $__________)
  • Additional assets: ______________________________________

Affidavit Statement:

Under penalty of perjury, I affirm that:

  1. The total value of the estate does not exceed the limit set forth under Arkansas law.
  2. I am entitled to the distribution of the estate's assets as stated herein.
  3. The above statements are true and accurate to the best of my knowledge.

Signature of Affiant: _____________________________

Date: _____________________________

WITNESS my hand this _____ day of _______________, 20___.

Affidavit Notarization:

State of Arkansas

County of _______________

Subscribed and sworn to before me this _____ day of _______________, 20___.

Notary Public Signature: _____________________________

My commission expires: _____________________________