Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Forfeit ability to decide how estate assets are
handled
Oregon intestate succession laws determine
distribution of assets
...
Executor must identify, locate, secure, and value all of
your estate assets
After your death, assets must be secured

Date...
One function of probate is to allow creditors of the
estate to file claims

Executor must publish notice of probate in a l...
Executor must defend estate during any litigation

Will contest or creditor claim could result in litigation

Executor ess...
Your executor fails to secure estate assets in a
timely fashion and some are lost forever
Your executor fails to hire an a...
Your executor sells priceless family heirlooms to
provide liquidity

Your executor allows real property owned by the
estat...
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
The Role of Executor/Personal Representative in Oregon
Upcoming SlideShare
Loading in …5
×

The Role of Executor/Personal Representative in Oregon

1,522 views

Published on

Deciding who to appoint as executor of your estate is a much more important decision than you may realize. http://www.rbsllc.com/estate_planning/index.php/probate/

  • Be the first to comment

  • Be the first to like this

The Role of Executor/Personal Representative in Oregon

  1. 1. Forfeit ability to decide how estate assets are handled Oregon intestate succession laws determine distribution of assets Also forfeit ability to appoint executor Anyone can petition to become personal representative of your estate if you die intestate Same duties and responsibilities as executor
  2. 2. Executor must identify, locate, secure, and value all of your estate assets After your death, assets must be secured Date of death value must also be ascertained down the road An inventory may be required by the court handling the probate
  3. 3. One function of probate is to allow creditors of the estate to file claims Executor must publish notice of probate in a local newspaper Executor must review all claims Approved claims are paid out of estate assets
  4. 4. Executor must defend estate during any litigation Will contest or creditor claim could result in litigation Executor essentially stands in your shoes
  5. 5. Your executor fails to secure estate assets in a timely fashion and some are lost forever Your executor fails to hire an attorney to help, or waits too long to hire one, wasting time and money because of mistakes made in the absence of professional advice Your executor pays creditor claims that shouldn’t have been paid, wasting estate assets
  6. 6. Your executor sells priceless family heirlooms to provide liquidity Your executor allows real property owned by the estate to deteriorate during the probate process, diminishing the value for beneficiaries Your executor makes a costly mistake on your estate tax return, or fails to file one, costing the estate thousands in penalties and fines

×