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How much does a personal representative get paid in Oregon?

How much does a personal representative get paid in Oregon?

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.

How long does someone have to contest a will in Oregon?

Obtain the forms from the court clerk. As of 2010, you must file the petition within the deadline set by the court, which is no later than four months after you received notice of the will or information about the will such as a probate notice.

How long does an executor have to settle an estate in Oregon?

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.

What happens if someone dies without a will in Oregon?

If you die without a will in Oregon, your children will receive an “intestate share” of your property. The size of each child’s share depends on how many children you have, whether or not you are married, whether your spouse is also their parent, and whether you have any children from a previous relationship.

What is the average fee for an executor of an estate in Oregon?

By statute, the compensation is based on the value of the estate. In Oregon, the base executor fee is roughly 2% of the value of assets passing under the will, and roughly 1% of assets passing outside the will.

What is the executor fee in Oregon?

In Oregon, the law states that the executor’s compensation is based on the following: Probate property, including income and gains: (A) Seven percent of any sum not exceeding $1,000. (B) Four percent of all above $1,000 and not exceeding $10,000.

How easy is it to contest a will?

You can technically contest a will after the estate has been distributed, but this may be very difficult to achieve. Again, you’re advised to challenge the will before the grant of probate has been issued.

Who can contest a will in Oregon?

§ § 113.075. Under Oregon law only interested parties have standing to file an objection to a will.

How much does an executor of a will get paid in Oregon?

Who inherits when there is no will in Oregon?

Under Oregon inheritance laws, If you have a spouse but no descendants (children, grandchildren), your spouse will inherit everything. If you have children but no spouse, your children will inherit everything. If you have a spouse and descendants (with that spouse), your spouse inherits everything.

Can you inherit your parents debt in Oregon?

If you inherit a house, you also inherit the mortgage. Unsecured debts, like credit cards, don’t work that way — as a beneficiary you are not responsible for that debt, but the estate needs to pay all known creditors before distributing property to beneficiaries and heirs.