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The Estate Settlement Timeline: Even though Oregon law does not specify a strict deadline for this, it is generally advisable to do so within a month to prevent unnecessary delays in the probate process.
Your signature must be notarized by a court clerk or notary public. You will need photo identification. Sign the Affidavit in the presence of the notary or clerk. ? You will need the death certificate and the will (if any) o You need a certified copy of the death certificate.
ESTATE. You can only file a Small Estate Affidavit if the total value of the estate is under $275,000 and: ? No more than $75,000 of the fair market value of the estate is from personal property. and. ? No more than $200,000 of the fair market value of the estate is from real property.
Probate is not always necessary. If the deceased person owned bank accounts or property with another person, the surviving co-owner often will then own that property automatically.
It is comparable to a balance sheet, as the Final Account reports all the ?ins and outs? for the estate, starting with the beginning value of the Inventory and ending with the value of the property on hand for distribution to the beneficiaries.
Sometimes probate is needed 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, and put the title to these assets in the names of the rightful beneficiaries. Collect debts owed to the deceased person.
Simple probates may cost around $2,000, but an average is closer to $3,000 - $5,000 (and up).
Be sure that you have completed all the tasks in the affidavit before filing. 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.