Oregon Affidavit by an Attorney-in-Fact in the Capacity of an Executor of an Estate
Description
How to fill out Affidavit By An Attorney-in-Fact In The Capacity Of An Executor Of An Estate?
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FAQ
All of the requirements in the Affidavit of Claiming Successor Testate Estate must be completed. The Affidavit must be filled out correctly and the mailings completed as required, one copy to Department of Human Services and one copy to the Oregon Health Authority. The filing fee for a Small Estate is $124.00.
Probate can be started immediately after death and takes a minimum of four 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 estate proceeding cannot be filed until 30 days after death and is complete upon filing.
If your estate needs management, a personal representative (?executor?) will be appointed by the court. Having a will lets you decide who that person will be. You may choose someone familiar with your property and affairs or a professional who can serve as a personal representative.
This more streamlined process is known as the small estate proceeding, and it breaks down pretty much like this: Personal property in the estate must have a value less than $75,000. Real property in the estate must have a fair market value less than $200,000.
Under Oregon statute, the personal representative gets a percentage of the value of the assets. This percentage decreases as the value of the assets increases. For the 1st $1000, the personal representative gets 7% or $70. For the next $9000, the personal representative gets 4% or $360.
A personal representative undertakes serious duties and responsibilities that are required by the laws of Oregon. A personal representative ("PR") must: Take immediate control of and safeguard the decedent's property. The property of the estate is the PR's responsibility until it is distributed.
The personal representative may be the executor, who is the person named as such in the decedent's will, or it may be the successor to the executor, or an administrator appointed by the court where the decedent died without a will naming an executor.
Generally, the person who oversees your estate is known as your ?personal representative.? California law also refers to a personal representative as an ?executor? or ?administrator.? All three terms describe the same function, although there is a legal distinction between their method of appointment.
