Oregon Affidavit Request to Attend Non-Professional Fiduciary Training Online
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How to fill out Oregon Affidavit Request To Attend Non-Professional Fiduciary Training Online?
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FAQ
The personal representative, also called the executor of the estate, will be responsible for administering the estate during the process. The personal representative is often named in the will. When creating your will, you should think about who would be a suitable choice for this role.
A personal representative undertakes serious duties and responsibilities that are required by the laws of Oregon. A personal representative ("PR") must: Take immediate control of and safeguard the decedent's property. The property of the estate is the PR's responsibility until it is distributed.
Oregon Conservatorship Someone?usually a family member?files a petition with the court to become the conservator for an individual. The petition will state that the individual in question is unable to manage his or her income and property without assistance?and without management assets will be wasted or dissipated.
How do I get letters? Letters Testamentary or Letters of Administration are issued by the court, once the court has appointed you the Personal Representative of the estate. These documents authorize you to handle the claims, releases, transfers, and other issues in the estate.
You must petition the probate court to admit any will to probate and to appoint you as the personal representative. The petition contains some basic background information of the decedent, and this information is described in ORS 113.035 -Petition for appointment of personal representative and probate of will.
Notify Heirs and Beneficiaries. File an inventory of the decedent's assets with estimated values. Determine the creditors of the estate and pay valid claims.
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. See Oregon Revised Statute 116.173.
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.