Matt Fryar explains what probate is and why you don't want your assets to go into probate when you die.
Probate is a court case that may be required when you die. Most property which you own at the time of your death must go through probate. The probate process in Arkansas takes at least seven months and costs somewhere between 3% to 5% of the value of the estate.
Make sure you have a well-structured estate plan so that your family does not have to go through probate when you die!