probate a will or not in oregon?? dazed & confussed

[BAD LUCK]

1# being named in a will as executor of such will , i,m told if there isnt any or enough assets by oregon law , then i dont have to file the will in probate OR... ASK TO BE GRANTED THE POSITOIN OF EXECUTER as wished by the testator, true or fulse ??

2# i,m currently working on collecting a small life insurance that was taken out on him by his deseast parents. as the executer/admin, do they half to release the check to me by order of the testators will ???, thx in advance for your time !!!

[AFFA]

I wish to inform you that Oregon allows a short procedure for handling small estates. This reduces the cost and time for distributing the estate assets. You may file a document called an “affidavit of claiming successor.” This procedure can be used suitably if the estate’s personal property is valued at no more than $75,000 and real property is valued at no more than $200,000, for a total aggregate estate value of no more than $275,000. Further, real property includes land and buildings or structures placed on land, such as houses, commercial buildings and agricultural buildings. Personal property includes all other property, such as cars, boats, clothing, stocks, bonds and personal items. The short procedure takes 4-6 months. Regarding the insurance policy, the estate of the deceased will be credited the proceeds.

AFF

[BAD LUCK]

thx for the reply, i,m not sure why i have to file a(affidavit of claiming successor) when (i,v been designated by the the will as executor) ???. any chance you may know what the procedure is to do that ???, either way ,... can i do any of these 2 things ( on my own), dont have much funds to work with...

[Friend In Court]

Originally Posted by BAD LUCK 1# being named in a will as executor of such will , i,m told if there isnt any or enough assets by oregon law , then i dont have to file the will in probate OR... ASK TO BE GRANTED THE POSITOIN OF EXECUTER as wished by the testator, true or fulse ?? 2# i,m currently working on collecting a small life insurance that was taken out on him by his deseast parents. as the executer/admin, do they half to release the check to me by order of the testators will ???, thx in advance for your time !!!

How much is the estate? Not enough facts in your post for one to check Oregon law.

Ordinarily, a will needs to be probated and assets/debts managed and paid under court supervision.

What are the debts of the deceased? Is there real estate? If so, it needs to be appraised. Who are the heirs?

As you the beneficiary of the life insurance policy? If not, you better not take those proceeds is my advice. They are to go directly to the policy beneficiary.

I strongly recommend you have the will probated and become apprised of the laws and proceedures of probate and obligations of the executor of a will before you attempt to act as same. It can be a heavy obligation if mishandled and you can have personal liability to the heirs. .

[BAD LUCK]

Originally Posted by Friend In Court How much is the estate? Not enough facts in your post for one to check Oregon law. Ordinarily, a will needs to be probated and assets/debts managed and paid under court supervision. What are the debts of the deceased? Is there real estate? If so, it needs to be appraised. Who are the heirs? As you the beneficiary of the life insurance policy? If not, you better not take those proceeds is my advice. They are to go directly to the policy beneficiary. I strongly recommend you have the will probated and become apprised of the laws and proceedures of probate and obligations of the executor of a will before you attempt to act as same. It can be a heavy obligation if mishandled and you can have personal liability to the heirs. .

hi, ... there is no (real) property .... a few doctor bills nothing big, household stuff and a beater car, there is no one listed as benif. on that pol., i,v done everything, i have his & his wifes ashs in my poss. (known them for 38 years)been left everything else to do and have been left everything to give to whom ever and get rid of the remaining stuff, the insur. was taken out on him as a little boy of 3, he was adopted, no children of his own...hope this helps ....

[Friend In Court]

I maintain that insurance policies do not go through probate but are contracts to be paid directly to the beneficiary, outside of probate court. All a court could do is say, "Yep. The insured named this person as beneficiary. And, yep, the insurance company made their check out to the beneficiary as they are required to do. Give her or him their money."

Insurance policy proceeds go the beneficiary. They do NOT go to the estate. The reason is: An insurance policy belongs to the beneficiary. It does not belong to the estate. That is why it is not an asset that goes into probate. If a trustee diverts insurance proceeds to the estate or him/herself, he/she can expect nothing but trouble.

See a lawyer who handles probate matters is my advice so you do not end up in trouble with the heirs and courts.

[BAD LUCK]

hi, i,m sold on the fact that probate has nothing to do with the insurance since there is NO heirs.. i,m the sole benif. of all he owned , i,m just not sure about the lang. in the will that states... I LEAVE MY ENTIRE ESTATE TO BE DIST. AT THE SOLE DISCRETION OF MY EXECUTOR.

[BAD LUCK]

Originally Posted by BAD LUCK hi, i,m sold on the fact that probate has nothing to do with the insurance since there is NO heirs.. i,m the sole benif. of all he owned , i,m just not sure about the lang. in the will that states... I LEAVE MY ENTIRE ESTATE TO BE DIST. AT THE SOLE DISCRETION OF MY EXECUTOR.

guess what i,m asking is , .. does it half to use the lang. and the words (benif) and state that i am a benif. ???