My loved one has died. Now What?

The easiest place to start when a loved one has passed is to try to determine whether the family member has any estate planning documents. Was there a trust? A will? 

A little-known fact is that a trust is the only estate planning document that avoids probate. Unless your family member has a trust, regardless of whether he or she has a will – your next step should be meeting with an experienced estate planning and probate attorney. 

Will there be a probate?

It depends. 

If your loved one executed a trust, and appropriately funded it with his or her assets, there should be no need for a probate. If you are named as the successor trustee of the trust, you will want to meet with an experienced estate planning attorney at the outset so that you have a clear understanding of your duties as successor trustee. Though the process of trust distribution is cleaner than a probate, the Trustee does have required duties. An estate planning attorney will provide you with an overview of the duties and the two of you can discuss the allocation of these tasks between the two of you depending on your level of comfort.

If your loved one did not execute a trust, or executed a trust but did not transfer all assets to the trust, there will likely be a probate. An experienced probate attorney will be able to give you a definitive answer. The attorney will be able to do a thorough review of your family member’s assets and existing creditors. Then the attorney can evaluate whether to open a full probate or whether the estate is small enough in value to qualify for the condensed version of an Oregon probate, known as a Small Estate Affidavit (SEA). A SEA is a desirable route to go due to its compressed timeline, shortened list of requirements, and reduced court fees.

If the estate value is too large, the attorney will file a petition with the appropriate county probate court to begin administration of the estate. Probate is the court supervised process of transferring assets between the deceased party and his or her heirs. Either the person’s will or the state’s statutes (if there is no will) determine where the deceased party’s assets go. The court will supervise the actions of the personal representative (the executor), the payment of the estate’s creditors, and ultimately approve the distributions to heirs. 

If your loved one has passed, please let Wy’East Law, LLC help answer questions and navigate the distribution process. Call (503) 354-6402.