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Arkansas Inheritance Laws

Inheritance Funding: How to get a timely Probate Advance or Inheritance Advance (often called Inheritance Loans, Estate Loans, or Probate Loans) for Heirs in Arkansas

If you are expecting an inheritance in Arkansas, and are looking forward to getting an advance on inheritance, you probably want as large an inheritance advance as you can get approved for! Frequently called Inheritance Loan Advances or Inheritance Advance Loans, or just Inheritance Loans or Probate Loans, these services are actually cash advance assignments, not loans. Nonetheless, this terminology has become popular with heirs and attorneys, as well as within average inheritance funding companies that offer probate advance rates (or, as many heirs refer to it, Probate Loan rates, Inheritance Loans fees, or Inheritance Loan rates), which are available from Inheritance Cash Advance companies at no cost. Whatever the terminology, the outcome is the same for all services regarding Inheritance Advances, Probate Advances, or standard Inheritance Advance Funding for heirs.

Terminology: Inheritance Advance vs. Inheritance Loans – Do I Apply for a Cash Assignment or Borrow Against My Inheritance?

Heirs of estates in Arkansas will generally get an advance on inheritance from one of several online-based Probate Cash Advance or Inheritance  Advance companies when they need fast funds from a trust or during probate. Even though the Inheritance Funding process is actually an Inheritance Cash Advance assignment, and not an interest- or credit-based  loan (correctly called an advance on inheritanceinheritance cash advance, an inheritance advance or probate advance, a probate cash advance or estate advance, etc), these financial solutions are frequently called Probate Loans, Inheritance Loans,  Estate Loans, or Loans on Inheritance by heirs, as well as account and sales reps at everyday Inheritance Funding companies – and since everyone calls it by these terms, it has become the convenient norm. Heirs also refer to the process as borrowing against inheritance, getting a loan on inheritance, or getting a loan against my inheritance.

Which of Arkansas’ 75 Counties Allow Advances on Inheritance or Inheritance Cash Out Transactions? (Known by Beneficiaries and Heirs as Inheritance Loans, Estate Loans, or Probate Loans)

Arkansas allows Inheritance Cash Advance companies to provide advances on inheritance and Inheritance Advance services (which many heirs call inheritance cash out solutions from legitimate inheritance loan companies) in all 75 counties in Arkansas.

1. How Can You Tell If You’ll be Approved for Inheritance Funding?

It’s a fairly straight-forward process to figure out whether or not you will be eligible or qualified for an inheritance advance. Many heirs of estates in probate are middle class, and expect to receive relatively modest and simple assets, cash, and/or property. These middle class estates are generally not complex or massive.

Generally, middle class heirs can expect to inherit an older home (usually once their parents’ house), possibly other real estate, cash in bank accounts or a retirement account, interests in a family company, payouts from an insurance policy, and possibly shares in modest investment accounts.

2.  How large of an Inheritance Advance can I get from an Inheritance Funding Company?

Typically, the average Inheritance Funding company will provide an Inheritance Advance, Trust Fund Advance, or Probate Cash Advance, in the range of $2,000 to $100,000. Although some Inheritance Cash Advance companies will furnish more, if called upon to do so, this is relatively rare.

Inheritance Funding companies will not extend an Inheritance Advance totaling your entire inheritance, but rather, only a portion of it (generally 30% on property-based Inheritance Advances, and up to 60% on inheritances of liquid assets).  However, the size of your Probate Advance or Inheritance Advance (often called an Inheritance Loan or Probate Loan by heirs) will vary from company to company. Some aggressive inheritance lenders will advance up to 70%, but not many and not often.

3. Getting an Inheritance Advance or Estate Advance from an Inheritance Lender

Once you have contacted your inheritance funding company of choice, and have signed their Trust or Probate Advance agreement, the clock is ticking! Why wait until the close of probate to get your inheritance? Inheritance Cash Advance companies generally do their best to get your Inheritance Advance as quickly as possible, and will take all the steps necessary to correctly process your cash advance assignment.

However, probate often takes longer to close than most heirs would like, and because banks and credit unions do not provide loans or advances on inheritance, an heir’s options can be rather limited. They simply do not have a lot of financial avenues to get advance inheritance money, with fast funding turnaround. Thankfully, a company for these services does not require all the voluminous and invasive paperwork imposed by credit- and interest-based funding sources!

4. How Fast Must Inheritance Advance Funds be Paid Back to Inheritance Lenders for Standard Inheritance Funding?

Some heirs, after they borrow against inheritance, struggle to pay back their Inheritance Cash Advance to the Inheritance Funding company they chose; in fact,, many middle class heirs end up not being able to accomplish this at all, and instead must wait for probate to close to pay off their Trust Fund Cash Advance or Probate Advance.  As part of the transaction, Inheritance Cash Advance companies are typically sent a check to finalize payment by an Attorney of Record once the estate closes. Some inheritance lenders provide rebates and discounts for heirs that pay back their Probate Advance (Inheritance Loan, as heirs may call it) in advance of probate closing.

Arkansas Inheritance Laws

When you pass away, you leave all your property, assets, and money behind for your heirs. Inheritance laws in Arkansas make requirements clear concerning wills, including how non-willable property is inherited and what occurs if you pass away with no will.

Intestacy in Arkansas

When you do not leave a will naming beneficiaries or heirs to inherit your estate, Arkansas intestacy laws cover who will inherit their share of your estate. Unlike most states, in which the surviving spouse is the first to inherit, Arkansas (Statute 28-9-214) entitles children, if living, to inherit equal shares of the estate. In Arkansas, if there are no children and you have been married to your spouse for at least three years, the surviving spouse will inherit 50% of the estate, while the decedent’s parents, if living, will be entitled to inherit the other half of the estate. If the decedent is not survived by children, a spouse, or parents, his siblings and their children (the decedent’s nieces and nephews) will inherit equal shares of the entire estate.

Non-Willable Property in Arkansas

Not everything is passed down through a will in Arkansas. If a decedent had a joint bank account or owned any property (including real estate) jointly with another person, then the surviving owner automatically inherits the decedent’s interest in the property; this is because joint property is owned with a Right of Survivorship. Additionally, life insurance policies often have named beneficiaries. If the decedent had life insurance, the beneficiary will receive the proceeds. A decedent cannot name a different beneficiary in his or her will. If there is property held in trust for another person (frequently in a bank account), then that beneficiary is allowed complete control of the account when the decedent dies.

Arkansas Testator Requirements

A testator is the person who makes a will. Anyone can make a will if (s)he is at least 18 years old and fully competent. Mental competence means that a testator must be 1) “of sound mind” 2) aware of his property, as well as who he would like to name as beneficiaries. The testator is free to select anyone as a beneficiary, including friends, relatives, or charitable organizations. Importantly, the will must be voluntary. Any undue influence by a potential beneficiary can invalidate a will.

Signing a Will in Arkansas

An inheritance from a will must be signed in concert with Arkansas Inheritance Law. The will has to be in writing, and generally typed. “Holographic” or handwritten wills may be acceptable in an Arkansas court, but the handwriting must be in the testator’s handwriting – which can often be very difficult to prove after the testator has passed away. Most importantly, a will must be signed by the testator at the end of the document. Any provisions below the signature line are void. If the testator is unable to sign, (s)he can direct someone else to sign for him or her; this person will sign the testator’s name, which must be executed with the testator watching. Two impartial persons must witness the will signing. Witnesses have to be 18 years old or older, and cannot be beneficiaries in the will.

Arkansas Probate Process

Probate is the official process for an estate to be settled. Under court supervision, a person (typically a surviving spouse or adult child) will be appointed Executor of the estate, either as stated in the deceased’s Will or nominated by the Court where there is no Will. This person, also known as a Personal Representative, is given the legal authority to value and distribute property and assets to heirs and beneficiaries.

The purpose of probate is to discourage fraud after a loved one dies. Probate freezes the estate’s assets until the probate judge determines whether the will is valid, and then ensures that 1) all relevant persons/beneficiaries have been notified, 2) all property has been identified and appraised, 3) all creditors have been paid back, and 4) all taxes have been paid. Once that has been accomplished, the Probate Court will issue an Order to distribute the property, after which the estate is officially closed.

Not all estates are required to go through Probate, such as those considered to be a Small Estate. In these cases, court supervision is not required to settle an estate.

Secondly, not all assets are subject to the probate process. In some cases, assets will transfer automatically upon death, including:

  • Joint Tenancy Assets: Assets are owned together, giving the Right of Survivorship to the surviving owner. When one joint tenant passes away, the other inherits full ownership.
  • Tenancy by Entirety or Community Property, with Right of Survivorship: Similar to joint tenancy, but only available to married couples. Upon the death of one joint tenant, the surviving spouse inherits full ownership.
  • Beneficiary Designations: Typically, retirement accounts, life insurance policies, etc have named beneficiaries. When the account/policy owner passes away, assets go to the named beneficiary.
  • Payable/Transfer on Death Accounts: Like Beneficiary Designations, bank and brokerage accounts can include designated beneficiaries. If so desired, the account owner can designate recipients of account assets upon his death.

Thirdly, if the deceased had a Living Will to hold his assets, then his estate will likely not have to go through Probate upon his death. Individual states have laws dictating eligibility for Living Trust and Non-Probate situations.

For estates that exceed the threshold for a Small Estate, and/or for which there is no will, Probate is required to allocate funds appropriately to heirs/beneficiaries.

  • The Will must have been filed in the county where the deceased lived.
  • The Will must be filed within 30 days of the death.
  • A Petition for Probate must be filed. This petition requests the appointment of an Executor to the Estate, whether as dictated by the Will or, where there is no Will, by the Court.
  • Likewise, all heirs/beneficiaries must be notified as required by the respective Probate Court.
  • Next, a Notice of Death must be published in the local newspaper where the deceased lived. Creditors have three months after the date of posting to file a claim of outstanding debt. The Probate Court will then issue Letters Testamentary to the Executor (also known as a Personal Representative) of the Estate. This gives the Executor official authority to act as a legal representative of the Estate.
    An inventory of the estate’s assets must be filed with the court, after which all property and assets will be distributed to heirs/beneficiaries appropriately.
  • Once assets have been allocated and all taxes and creditors paid off, a Petition for Discharge will be filed with the Probate Court, thus closing the estate.
  • While an Executor is entitled to a statutory fee for service, many heirs forego payment, as it would be subject to an Inheritance Tax.

What happens to property in Arkansas if I die without a will?

Dying without a will does not mean your property will not go to your surviving family.  Your closest remaining relatives will be in line to receive your property, based on Arkansas’s laws of intestate succession.  (Intestate means without a will.)  So, instead of your property going specifically to people you choose, it will go to your relatives as determined by law. How your estate is actually distributed depends entirely on which relatives survive you  (meaning that they are still alive when you die).

Intestate Succession in Arkansas

The simplest answer to the question, “What will happen to my property if I die without a will?” is that your property will go to your closest living relative(s).  Laws in Arkansas establish the order of priority.  Your surviving children, and the descendants of any of your children who may have died before you, will receive shares of your estate.  If there are no children, your surviving spouse will inherit your property, unless you were married for less than 3 years at the time of your death.  If that’s the case, your spouse will only receive half of the estate.

If you have no spouse or children, but your parents are still living, they will share equally.  Next would be your siblings, and any descendants of siblings who died before you.  Next in line would be grandparents, uncles and aunts, great-grandparents, etc. until there is no one else.  Only then, would your estate go to the county where you resided at the time of your death. These laws were designed with the specific purpose of making sure your property is given to your relatives, even the remotest ones. So, unless you have no surviving family when you die, the county will not end up with your property.


Intestate succession only applies to property that you owned in your name alone.  If you have joint property, it will not be a part of your estate.  For example, if you own a vehicle with your son and both of your names are on the title, the vehicle will pass to your son when you die.  Some other examples of property that is not controlled by laws of intestate succession are retirement accounts, life insurance policies, and other items that have specifically named beneficiaries.

While Arkansas’s Intestate Succession laws are straightforward for the most part, there are some specific requirements for certain situations. For instance, a relative cannot inherit unless they have outlived you by at least five days.  However, a relative who was not born until after your death, but was conceived before your death, can still inherit.  Half siblings are treated the same as whole siblings, and relatives who are not US citizens can still inherit.

Click Here for Arkansas Inheritance Advance Info and a Probate Advance Representative.