Oregon Probate Attorneys, Guardianship / Conservatorship Laws

The attorneys at Harris Law Firm are experienced when it comes to settling the estates of the deceased. We help resolve claims and distribute the deceased person's property under a valid will. Continue reading to learn more about probate or guardianships and conservatorships in Oregon.

Probate

Probate is a legal process whereby a court oversees the distribution of assets left by a deceased person’s will. Assets are anything a person owns with value, such as real and personal property and cash, for instance.

When is probate needed?

No, probate is not always required. If a person dies leaving very few assets, such as personal belongings or household goods, these items can be distributed among the rightful beneficiaries without the supervision of the court. Or, if the deceased owned everything in co-ownership, for instance all bank accounts were joint with rights of survivorship, then those assets pass automatically to the surviving co-owner.

Probate is generally necessary to: Clear title to land, stocks and bonds, or large bank or savings and loan accounts that were held in the name of the deceased person only; Collect debts owed to the deceased person; Settle disputes between beneficiaries or heirs.

What happens during the probate process?

If there is a will, then the will is "proved" and delivered to the court.

A personal representative is selected. A personal representative is someone who handles the deceased person’s affairs. A will generally names a personal representative who, if willing to serve and otherwise qualified, will be approved by the court. If a person dies without a will, after filing a petition for probate, the court will select the personal representative, usually the spouse, an adult child or another close relative.

A notice to creditors is published in a local newspaper notifying creditors that they have four months to bring any claim against the estate for debts the deceased person owes them.

The heirs and people named in the will are notified of the probate proceeding.

Assets are identified and an inventory is prepared and filed with the court.

All proven debts of the deceased are paid.

Tax returns are prepared.

An accounting is prepared showing all money paid out from the estate and all money collected by the estate.

After court approval of the account and payment of all unpaid probate expenses, the deceased person’s assets are distributed to heirs and beneficiaries.

A Fast Track Alternative for Smaller Estates

Oregon allows an abbreviated procedure for handling small estates that would otherwise require a full probate. If an estate fits in this category, the cost and time for distributing the estate assets may be greatly reduced. This abbreviated procedure can be used if the estate’s personal property is valued at no more than $50,000 and real property is valued at no more than $150,000, for a total aggregate estate value of no more than $200,000. Our attorneys can assist you with preparation of the Small estate at significantly less cost that a probate.

How long does probate take?

Probate can be started immediately after death and takes a minimum of six to nine months. If the estate includes property that takes a while to sell, or if there are complicated tax or other matters, probate can last much longer. A small estates proceeding can’t be filed until 30 days after death and generally takes four to six months.

What are the costs involved?

Under Oregon law, a personal representative is entitled to a fixed percentage of the value of the total estate. Extra costs may be approved by the court for the personal representative and a lawyer, if the estate is complicated. Other costs include court filing fees, legal notices published in the local newspaper and any other necessary expenses. Lawyers generally charge an hourly rate for their services. Every estate is different. The type of assets, number of beneficiaries and possible conflicts between beneficiaries all effect the cost of probate.

Does probate mean more taxes?

Unlikely. Very few estates are "taxable". In fact there are tax advantages to inheriting property. The standard tax credit has been changing every year, so you should ask your lawyer or CPA about the current tax thresh hold for estates.

Guardianships & Conservatorships

A conservator is a person appointed by the court with the authority and duty to manage the financial affairs of a person needing protection, such as a minor (under 18 years) or an adult incapacitated person and may be appointed for an adult if a judge determines that the individual lacks the capacity to manage his or her financial resources. The conservator can be an individual (family member or trusted friend), bank, trust company, or professional fiduciary. The conservator is empowered to take possession of the protected person's assets and income, and provides for payment of the protected person's expenses.

The conservator becomes the sole financial decision-maker for the protected person. The protected person loses all control of his or her property and assets, except for a few limited powers in certain situations.

A guardian is a person named by the court who has the authority and duty to make personal and health care decisions for a minor (under 18 years) or an adult incapacitated person. A guardian may determine where the protected person will reside and what medical care he or she will receive. The court may appoint a guardian either with unlimited authority, or only for specific actions.

A guardian generally does not make financial decisions. The court may appoint a conservator to manage the finances of the protected person.

Do I need a lawyer?

Probate, guardianships and conservatorships in Oregon involves a good deal of paperwork that must be filed in a timely manner. To achieve the results you want, probate should be handled with an understanding of the legal principles involved. An experienced lawyer can help you avoid the many possible tax traps and other problems that could arise. Also, a lawyer can help you prepare and file the legal documents and prepare you for hearings in court. Making a mistake with a probate or guardianship or conservatorship can cost a lot of money, delay the distribution of assets, and even put an inheritance at risk for taxation or debts that should have been avoided.

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