SMALL ESTATES
❦ DEFINITION OF A “SMALL” ESTATE
Under current Oregon law, a small estate is defined under Oregon Revised Statutes as:
An estate with a GROSS value of no more than
• total estate of $275,000 AND
• personal property of $75,000 AND
• real property located in Oregon of $200,000
Gross value means that the value of the property is not reduced by liens or other debts against the property.
If any one of the above condition is not met, then you are NOT able to do a Small Estate
Affidavit and may be required to probate the estate in a “full” probate process. Note also thatthere are circumstances where even though the above value conditions have been met, it is advisable to do regular probate process.
❦ WHO CAN FILE A SMALL ESTATE AFFIDAVIT
Persons entitled to file a Small Estate Affidavit include
• If intestate estate (i.e., without a valid will), any heir of the estate
• If testate estate (i.e., with an original, valid will), any devisee of the will (i.e., beneficiary of the estate named in the will) Note: can NOT be a copy of a signed will: you must have original document.
• Any creditor of the estate
❦ SMALL ESTATE PROCESS
The process for administration of a Small Estate (as defined above) is as follows:
• Preparation, execution and filing of a Small Estate Affidavit by party who is
entitled to file same. Note that this can not be done until at least 30 days after
date of death.
• Payment of fees to court and request for certified copies from court.
• Upon receipt of certified copy from court, notice to State, all unpaid creditors, all
heirs and all devisees.
•Submission of certified copy of Affidavit to anyone or any institution holding
funds or property owned by decedent.
❦ COSTS OF SMALL ESTATE AFFIDAVIT
Our costs for preparing, filing, and providing notice of Small Estate vary widely based on
complexity; we often charge a flat fee which generally we will determine at first meeting. Our fee includes the gathering of information to prepare document, preparation of document, filing, paying of fees, providing of certified documents with instructions, providing notice to all parties entitled of notice, including State of Oregon agencies, and answering your questions throughout the process. Flat fee ranges from $775 to $1250 and does not include the filing fee.
❦ DOCUMENTS AND INFORMATION NEEDED
» Short-form Death Certificate*
» Original executed will. *
If no original exists, then a full probate may be required especially if the terms of
the will are substantially different than intestate probate.
» Names and addresses of closest living relatives
» Names and addresses of all beneficiaries under last will
» Listing of all assets held in the name of the decedent on date of death
This won’t include assets that are transferred by operation of law. This includes
items such as jointly held bank accounts and jointly owned real property and
accounts where there is a payable on death (POD) beneficiary.
» Listing of all unpaid creditors, with name, amount, description, and address on billing.
Be sure to include reimbursement to family or friends for funeral or estate expenses,
unpaid property taxes, mortgage, loans, and final medical expenses. Ongoing utility bills
can be estimated for time period to sell or transfer home.
* Can NOT be a photocopy.
LAW OFFICES OF DADY KATHRYN BLAKE
1607 NE 41st. Avenue Portland, Oregon 97232
(503) 249-0502; FAX : (503) 200-1625 EMAIL : DADY @DADYLAW .COM