Probate is the legal means for transfering ownership of property to the other after death. In Arkansas, children are favored over everyone, even the surviving spouse. A lot of the advice would depend on if he owned any real property (a house) or any other property totally more than $100,000, a small estate could be opened to collect his belongings and either sell them and hold the money for the children, or simply hold the property. If he still owes money on the vehicle, it will have to be paid or turned into the bank and they will need to be notified he has passed away. And unless someone co-signed for him, the bank will not be able to collect from his children, etc. If he has more items or a home, someone will have to open a full estate and sell the house, and other items, pay anyone who makes a claim, and then distribute the money.