Step 1: Becoming the Personal Representative

The probate process in Oregon begins by submitting a petition to the court to appoint a Personal Representative, also known as an executor. The Personal Representative is responsible for managing the deceased person's financial matters. They use the assets of the deceased to pay off bills and ensure that the heirs or beneficiaries receive their rightful share of the estate.

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Upon appointment, the court issues special documentation called "Letters Testamentary" or "Letters of Administration" to the Personal Representative. These letters grant them access to the deceased's bank accounts, investment accounts, and other financial information. It allows them to handle debts, sell properties, and ensure that retirement accounts and life insurance policies reach the intended beneficiaries.

Typically, the deceased's Will specifies the desired Personal Representative. In cases where there is no Will, Oregon law gives priority to the spouse or closest relative. However, any interested person can request to be appointed as the Personal Representative.

Oregon law allows the Personal Representative to receive compensation for their efforts. The payment amount is determined by a formula based on the value of the estate.

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If the deceased had a Will, one of the initial steps is for the Personal Representative's attorney to have the Will admitted to the probate court.

In certain situations, the court may require the Personal Representative to obtain a bond. This bond acts as insurance to ensure that the estate's assets are used correctly to settle debts and distribute the remaining assets to the rightful heirs or beneficiaries. However, a Will often waives the need for a bond.

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Step 2: Notifying Parties

Once the court appoints the Personal Representative, their attorney ensures that appropriate notices are sent to the deceased's nearest next of kin, will beneficiaries, specific creditors, and the state of Oregon. Additionally, a legal notice about the probate proceeding is published in the local newspaper. These notices provide a four-month period for contesting the Will, presenting an alternative Will for probate, or filing claims for outstanding debts.

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Step 3: Compiling an Inventory

After the appointment, the Personal Representative and their attorney work together to create an Inventory of the estate. This inventory lists high-value assets, such as properties, vehicles, bank accounts, stocks, bonds, and valuable collections, along with their estimated values. The Inventory helps determine if there are sufficient funds to pay off the deceased's creditors and fulfill any special bequests mentioned in the Will. If there isn't enough money available, Oregon law establishes priorities for debt payment. It is crucial to work with an attorney to ensure the correct debts are prioritized.

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Step 4: Conducting Due Diligence

The Personal Representative's attorney assists in thoroughly investigating the deceased's finances. Detailed written instructions and a checklist are provided to the Personal Representative, and meetings are held to ensure a comprehensive investigation. Once the financial review is complete, a Declaration is prepared and signed by the Personal Representative, explaining the steps taken to the court.

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Step 5: Accounting

Towards the end of the probate court process, and sometimes earlier, the Personal Representative receives assistance in preparing an accounting of the probate assets. This accounting details the money received and how it was allocated. It is filed with the court and shared with the heirs and beneficiaries. If all entitled parties agree in writing, a formal accounting can be skipped.

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Step 6: Court Approval for Distribution

After the accounting is prepared or waived, the Personal Representative receives guidance in obtaining court approval to distribute assets, as well as paying attorney fees and costs. Receipts are obtained from all recipients of assets. Once all receipts are filed with the court, a supplemental judgment is requested from the judge, signifying the completion of the Personal Representative's responsibilities.