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Accounting for Personal Representative - Arkansas

Accounting for Personal Representative - Arkansas 2026

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The document is Form 20, which outlines the accounting process for a personal representative managing an estate. It details the submission of financial accounts to the court, including charges and credits related to the estate's assets, disbursements, and outstanding liabilities. The form requires itemization of transactions, a summary of the account balance, and a request for approval and fees for services rendered.

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Click ‘Get Form’ to open the Accounting for Personal Representative - Arkansas in the editor.
Begin by entering your name and title as the personal representative at the top of the form, along with the accounting period dates.
In Section 1, list all charges to the accountant. If this is your first account, start with the estate's value from the inventory. For subsequent accounts, begin with the previous balance and detail any additional property received, income earned, and gains from sales during this period.
Proceed to Section 2 to itemize credits other than payments to distributees. Include all disbursements and losses on sales, detailing each transaction date.
In Section 3, document credits for money paid or assets delivered to distributees. Itemize cash disbursements and describe other assets delivered, showing their estimated values or costs.
Complete the summary of account section by calculating total charges and credits. Ensure accuracy in reporting balances remaining in your hands.
Finally, provide a detailed description of any remaining assets and outstanding liabilities before signing at the bottom of the form.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a personal representative fee?

In California, the personal representative fee, often referred to as the executors fee or administrators fee, is compensation paid to the person appointed to administer the estate of a deceased individual.

What is a personal representative fee in Arkansas?

Except as provided in subsection (b) of this section, this compensation is not to exceed ten percent (10%) of the first one thousand dollars ($1,000), five percent (5%) of the next four thousand dollars ($4,000), and three percent (3%) of the balance of the value of the personal property passing through the hands of

What is the ark code 28 48 101?

Arkansas Restrictions on Out-of-State Executors In Arkansas, a nonresident executor must appoint someone who lives in the county where the estate is being probated to act as an agent. Your executors in-state agent will accept any legal papers related to your estate. (Ark. Code 28-48-101 (2024).)

What is a personal representative of an estate in Arkansas?

The Personal Representative is the person held responsible for proper settlement of the estate. If an individual dies with a will (known as testate), the will usually identifies the Personal Representative that individual chose to serve in that capacity.

Is there a time limit on probate in Arkansas?

Statute of Limitations A will must be submitted to the probate court within 5 years of the decedents death. An administration must also be granted within 5 years of the decedents death. Ark.

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How much does an executor get paid in Arkansas?

Arkansas: Just and reasonable compensation up to 10 percent of the first $1,000 of the estate, 5 percent of the next $4,000, and 3 percent of the rest. The court may allow additional compensation for substantial duties regarding real property (e.g., selling a house).

Accounting for Personal Representative - Arkansas 2026

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