The closest heirs inherit the estate assets of a deceased person in Oregon. The estate of a testator is intestate if there is no valid will for the division of property. Instead, Oregon law applies and dictates where the estate`s assets go. Oregon collects its own estate tax in addition to federal estate tax, but does not levy an estate tax. The following is a guide to the law of state succession, including what happens when there is no valid will; how Oregon State law deals with various family situations; and special inheritance laws specific to Oregon. However, estate planning is a complicated subject, and it`s a good idea to work with a financial professional to guide you through the process. If you don`t already work with one, you should find a financial advisor who serves your area. If the will is considered valid, the next step is the probate process. A person, often an adult child or surviving spouse, is appointed executor by the deceased`s will. Once appointed, the executor has the legal authority to collect and appraise estate property, pay taxes and bills, and finally distribute the property to heirs.

Other assets, also known as “non-estate” ownership, can generally be transferred to the other owner without discount. If you die without a will and have no family, your property goes to the state (“escheat”). This rarely happens because Oregon`s inheritance laws are designed to bring your property to your family, no matter how far away. In addition to spouses, descendants, parents, and siblings, your wealth probably won`t go to the state if you leave nieces, nephews, aunts, uncles, or cousins behind. Dying without a will is not ideal if you are involved in estate planning or deciding where your assets will end up after you die. Oregon`s inheritance laws refer to these types of estates as “intestate estate,” meaning there is no valid will. The court then follows legal inheritance laws to determine who inherits your property and how much they receive. Since there is no desire to appoint an executor, the court appoints someone, usually a surviving spouse or adult child, as the executor of the deceased`s will. The executor handles the distribution of the deceased`s will.

Some assets are not part of the probate process in Oregon and are therefore not affected by statutory inheritance laws. Here are some examples of valuable assets that don`t go through your will: Determining if you`re a close relative in Oregon can be confusing, especially in more complex family situations. A probate attorney in Oregon can help you determine your rights as next of kin. There are other aspects you may want to know about Oregon`s Succession Act. As in most states, a person who kills or mistreats you cannot inherit your estate. Another common inheritance law that Oregon also adheres to is the treatment of half-blood relatives as well as pureblood relatives. For example, your half-brother or half-sister would receive the same share as any other sibling. Like many states, Oregon has a five-day survival requirement for a next of kin who must inherit according to legal heirs. Section 112.572 of the Revised Statutes of Oregon states: If the next of kin inherits heirs by representation under the Oregon Statutory Estates Act, “representation” means the method of determining the transfer of the net estate when the beneficiaries belong to different generations with respect to the testator.

Representation under Oregon law is as follows: How your assets are distributed depends on whether you have living children, parents, or other close relatives at the time of your death. Under Oregon`s Estates Act, your spouse inherits everything if you have a spouse but no offspring (children, grandchildren). 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. It is important that a spouse does not include a domestic partner. In order for your child to inherit from you under Oregon law, the state must treat them as your child. There are a few factors you should consider. The following legal heirs who are entitled to inherit the estate of a deceased in Oregon depend on the survivors of the deceased. Subsequent heirs who are closer to the testator take precedence over the inheritance under Oregon`s laws of succession. When a person dies, their will must be presented to the court and proven to be the will of the deceased. From there, the court must formally appoint a personal representative (usually the person named in the deceased`s will) and follow the process of distributing assets in the deceased`s name to persons listed in the will or persons entitled to receive property under intestate inheritance laws (for a more detailed overview of the probate procedure, Click here).

If the property is subject to succession, a court order is required before the assets can be distributed. If the asset is something with a title such as real estate, the personal representative issues a new deed to the recipient indicated in the will. Next of kin and legal heir are often used interchangeably under Oregon law. A close relative describes someone who wishes to inherit the estate of a deceased person under Oregon`s legal inheritance laws, and generally includes: Only assets that would have passed through your will are affected by statutory inheritance laws. Typically, this includes assets that you own only in your own name. Valuable assets that do not transfer through your will and are therefore not affected by statutory inheritance laws include: Only the assets of the testator`s estate are subject to Oregon`s statutory inheritance laws for distribution to an heir`s next of kin. If a deceased person died with only unalterable property, subsequent heirs may have nothing to inherit. Non-recoverable assets include bank accounts with a co-owner or designated beneficiary at the time of payment of death. These designations govern the sale of the account after the death of an owner instead of Oregon`s statutory estate law. Refer to the table of probate and uncertified properties. Unfortunately, with no hint of the deceased, you essentially end up with a scavenger hunt for assets. That`s why I try to convey to my clients the importance of keeping a list of assets somewhere that the next of kin can find.

If an estate is required and the deceased did not have a will, Oregon`s laws of legal succession determine who is entitled to the property. Intestate inheritance laws only act as a standard set of rules, meaning they only apply if you die and don`t leave a will, trust, or other beneficiary designation for an asset. If you are not married to a life partner or have a mixed family, the laws of intestate succession may result in a different distribution of your wealth than you would like. Fortunately, it`s easy to avoid intestate succession laws applying to your estate by creating a will, trust or beneficiary designation for an asset. For example, if you are married and all of your children are also children of your spouse, your surviving spouse will inherit all of your estate after your death under inheritance laws. ORS 112.025(1). On the other hand, if you are married and have children from a previous relationship, your surviving spouse will receive half of your estate and your children will receive the other half together. ORS 112.025(2).

If you die without a will, this is called a dying “intestate.” In this case, the assets are divided according to Oregon`s intestate estate laws. This means that the courts decide what happens to your property and who oversees the distribution of your property. Since there is no guarantee that state laws will match your personal wishes and that legal succession can be a long and stressful process for your loved ones, it is important to draft a will, no matter how large or complex your estate is. A common complication is when you are married but have children from a previous relationship. In this scenario, your spouse would inherit part of your estate and your children from the previous relationship would divide the rest of your estate. Oregon`s legal rules of succession establish a hierarchy of who will inherit from you. Basically, the rules leave your next of kin surviving.