GORDON HALL ATTORNEY
14523 Westlake Dr. Suite 13
Lake Oswego, Or 90735
503-997-4664
Probate
Probate is a legal process in which a court oversees the payment of debts and the distribution of assets when a person dies.
A full probate is an expensive and time-consuming process. An attorney is usually required and the fees for legal services can amount to a substantial sum. It can typically take a year to complete the process.
In Oregon a full probate is required if a person leaves an estate of more than $75,000 in personal property and/or $200,000 in real property. If the estate is less than these amounts, title to property can be transferred using a small probate procedure where an affidavit is filed with a court.
Avoiding a full probate in Oregon involves reducing the amount of property in a person's estate during the person's life below the amounts that will trigger a full probate.
The following actions can be taken to avoid a full probate in Oregon:
[1] Deed real property to a revocable trust.
[2] Designate persons or a revocable trust as beneficiaries of bank, brokerage, IRA, 401k accounts.
[3] Keep less than $75,000 of personal property and less than $200,000 of real property in your personal name.