Oregon Small Estate Affidavit Information is a document that is used to transfer assets and property in the event of a decedent's death in the state of Oregon. It is an alternative to the probate process and enables the transfer of assets without having to go through court proceedings. The affidavit may be used if the decedent's estate is worth $275,000 or less and must be signed by the decedent's heirs. There are two types of Oregon Small Estate Affidavit Information: the Small Estate Affidavit (SEA) and the Affidavit of Warship (AOH). The SEA is used to transfer assets that are in the decedent's name alone, while the AOH is used to transfer assets that were held jointly or in trust. Both affidavits require that the information provided is accurate and that all heirs are in agreement.
Oregon Small Estate Affidavit Information
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FAQ
Small estates are governed by Oregon Revised Statutes (ORS) 114.505-114.5351. Other laws and rules apply to court filings generally and to probate (estate) law. FILER / AFFIANT You can file a Small Estate Affidavit if you are any of the following: ? An heir.
Some states, like Oregon and Florida for instance, have no stated time limit for an executor to submit the will. Other states such as Texas, have a window of four years after death to begin the probate process.
Probate is the Court Administered transfer of the property of someone who has passed away. Typically, it takes 5-9 months to probate an estate. For small estates the process is typically quicker but still takes at least 4 months.
An affidavit can be filed if the fair market value of the estate is $275,000 or less. Of that amount, no more than $200,000 can be attributable to real property and no more than $75,000 can be attributable to personal property.
Estate planning, including Living Trusts, Payment on Death Accounts, and Transfer on Death Deeds, may help avoid Probate.
Step 1 ? Wait Thirty (30) Days. The small estate affidavit can only be filed after thirty (30) days have passed since the decedent's death. Step 2 ? No Personal Representative.Step 3 ? Complete Forms.Step 4 ? File With Court.Step 5 ? Send to Estate Recipients.