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Once the Grant has been received the personal representative has a duty to collect in the assets of the deceased, pay the liabilities and distribute the estate to the beneficiaries. They have many powers to assist them when dealing with an estate e.g. power to sell property, insure property and invest monies, etc.

Executors' year However, many beneficiaries don't realise that executors and administrators have twelve months before they are obliged to distribute the estate to the beneficiaries. Time runs from the date of death.

Expect probate to take at least 5 months The estate's PR sends written notifications to any heirs or other persons named in the will. The PR also works to identify and value all estate assets, then files an inventory with the court. Five months can be sufficient to settle a small, straightforward estate.

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.

Other deadlines exist that must be followed. For instance, a list of assets must be provided within 90 days after the executor was appointed.

If you are appointed an executor/trustee by a Will, the general rule is that you will not be entitled to be paid for the time you spend in administering the estate.

The administration of a probate estate takes a minimum of 4 Months in Oregon. The typical amount of time is closer to 7 to 10 months depending on the nature of the assets and the backlog at the court house.

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 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.

Portland Oregon Supplemental Judgment Discharging Co-Personal Representatives

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