The Role of Executor/Personal Representative in Oregon

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The Role of Executor/Personal Representative In
Oregon
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Creating Your Estate Plan
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During the creation of your estate plan you must
answer many questions and make numerous decisions
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Most of these questions and decisions will relate
to the distribution of your estate assets when
you die
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Deciding who to appoint as executor of your
estate is a much more important decision than you
may realize
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What Is an Executor?
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Intestate Estates
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When a person fails to leave behind a valid Last
Will and Testate he or she is said to have died
INTESTATE
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Inventorying Assets
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Opening Probate
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Your EXECUTOR must petition to open probate in
court
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Formal probate is time consuming and requires
knowledge of many areas of the law
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Most executors retain an estate planning
attorney to help
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Creditor Claims
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Defending the Estate
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Managing Estate Assets
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Executor must manage all estate assets until
probate is complete
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Must also decide what assets to sell if there
are not sufficient liquid assets to satisfy
creditors and/or tax debts
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Taxes and Transfers
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At the end of the probate process the executor
must prepare, file, and pay both personal and
estate taxes
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After taxes are paid, your executor will need to
prepare all documents needed to legally transfer
estate assets to the intended beneficiaries
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Impacting Your Plans Success or Failure
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Ways in which your executor could negatively
impact your estate plan
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Ways in which your executor could negatively
impact your estate plan
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Ways in which your executor could negatively
impact your estate plan
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Learn More About Probate and the Role of an
Executor in Portland Oregon