Probate Administration
Probate Administration is a court-supervised administration of an estate. It often occurs when the deceased does not have all the appropriate documents in place to secure their assets (i.e. living trust or pay on death account designations, among others), dies with just a Will, or dies intestate (without a will), or a dies with a Will which is simply not sufficient to meet their needs. It is a court process to transfer assets to the appropriate heirs and resolve debts. Without the proper guidance, it can be a long, complex, and expensive process, with many participants involved and various levels of emotions.
Lynx Law understands how overwhelming probate law and the legal process can be. Our firm provides services to navigate the court system and to ease your loved ones through this difficult time. We ensure that all important steps are taken and every requirement is met, starting with the initial filing of a petition for probate and facing every challenge moving forward. Dealing with grief and settling a loved one’s estate is emotional and can be overwhelming. Let us help your loved ones maneuver their way through the probate process. We are a guide, but more importantly, a trusted friend providing strength and representing your wishes.
Simplified Probate Procedures
When managing an estate in Oregon, a Small Estate Affidavit offers an alternative to the traditional probate process. It is used to manage the distribution of a deceased person’s estate without formal probate proceedings if the value of the estate falls within Oregon’s small estate limit. The limit for all personal property owned cannot exceed $75,000 and the market value of any real estate owned cannot exceed $200,000.
An affidavit can then be utilized by an affiant (person who files the affidavit), often the decedent’s heir, personal representative, or creditor, to effectively allow the distribution of the deceased’s assets. Let Lynx Law help you determine which course is appropriate for your estate and represent you in every step of the process.
Probate Administration FAQ
Understanding probate and the court administration of your loved one’s estate can be overwhelming. Lynx Law believes in empowering our clients through education. Knowledge is powerful. It provides reassurance and the energy necessary to navigate the many facets of the probate administration process. Please explore some of the most common FAQs below:
The costs of probate can be quite extensive. They may include appraisal costs, the cost of the surety bond, the executor’s fees and court filing fees, among others. Generally, a simple probate will cost around $2,500, but an average is closer to $3,000 to $5,000 and up depending on the size and complexity of your case. Additionally, Oregon law allows for both the Personal Representative and the attorney to receive compensation for their services to be paid by the estate. Our probate services are billed hourly at $175/hour.
No, not all assets are subject to the authority of the probate court. These include, but are not limited to, bank accounts, annuities, vehicles, life insurance, IRA’s and 401k’s. Many of these assets can be immediately transferred to the beneficiary and are not subject to probate. For a full list of assets that are not subject to probate and to learn more about the process for your estate, please contact our offices to schedule your consultation!
Probate in the state of Oregon will take a minimum of 4 months, but typically, it takes 5-9 months to probate an estate. Larger more complex estates may take a year or longer to conclude. The process begins with the filing of a Petition and ends with a Final Accounting. The Court has strict guidelines for the process. Complications arising during the process could extend the time necessary complete the Probate.
In the event of a Will, the individual named as the Executor will often oversee the probate process and will be appointed to serve as the Personal Representative to the estate. If a Will does not exist, or an executor is not named within the Will or relinquishes their responsibility, the probate court will appoint an individual to handle the probate process. Often it is the closest living relative or a person who will inherit a portion of the estate. For more information on probate procedures, contact our offices today!
The Personal Representative oversees the filing of the initial probate petition and takes every step necessary to settle the decedent’s estate. This includes, but is not limited to, following court orders, paying debts, as well as appraising the estate. For a full list of duties and to learn more about the Personal Representative, contact Lynx Law today so that we can empower you and guide you through the probate process.
Although the court is not in charge of “supervising”, there are a variety of actions the Personal Representative cannot do without the Court’s permission, such as sell real estate and/or a business interest owned by the estate or pay fees to themselves. To learn more about the roles of the Personal Representative book your consultation with Lynx Law today!
The Personal Representative has a fiduciary duty to act in the best interests of the estate and its beneficiaries. However, sometimes a Personal Representative may act negligently, dishonestly, or in bad faith, causing harm to the estate or its beneficiaries. In such cases, you may have grounds to sue the Personal Representative for breach of fiduciary duty. Relief may include removing and replacing the Personal Representative; ordering them to account for their actions; ordering them to pay damages; imposing sanctions; or modifying or terminating their authority.
Let us reduce your stress and help you navigate the complex processes of probate.
Please contact us to learn more and to start probate today!