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AR SB491
Bill
Status
3/28/2017
Primary Sponsor
Bruce Maloch
Click for details
AI Summary
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Amends Arkansas Code § 28-41-101(a) to allow distributees to collect and distribute estate assets without appointing a personal representative when specific conditions are met
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Establishes a $100,000 property value threshold (excluding homestead and statutory allowances) for small estate collection procedures
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Requires one or more distributees to file an affidavit with the probate clerk containing itemized descriptions and valuations of personal and real property, confirmation of no unpaid claims, and Department of Human Services benefit information
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Mandates that a certified copy of the affidavit be provided to any person owing money, holding property, or acting as a registrar or transfer agent
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Approved March 24, 2017
Legislative Description
To Clarify The Law Concerning The Collection Of A Small Estate By A Distributee; And To Clarify The Value Of Property For The Purpose Of Collecting A Small Estate.
Last Action
Notification that SB491 is now Act 649
3/28/2017