"Beside posting in the newspaper 3 times asking if any unpaid debts, is there anything else I have to do in Arkansas before disbursing the monies?"
Is this a trust? If so, I can't imagine why you'd need to advertise anything in the paper. What you describe sounds like an action taken in connection with administration of a will. Also, the issue of Arkansas vs. Minnesota has me concerned that what you're really talking about is probating of an estate.
You should be talking with an AR estate-probate attorney.