Proceeds from a life insurance policy Assets held in a living trust Assets held in a retirement account such as a 401(k) account Funds held in an account that is designated as a “payable on death” account Securities, vehicles, or other property held by an account or with a title/deed designated as a “transfer on death” account Real property that you co-own with someone if it is titled as a joint tenancy or tenancy by the entirety Oregon does offer an alternative to formal probate for small estates. 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 (as of 2013) the estate may qualify to be probated using an affidavit of claiming successor. All other estates must go through formal probate. If you left behind a valid Will the probate of your estate can be accomplished more efficiently because the heirs of the estate do not have to be determined by the court. When a Will is entered into probate the court is bound by the terms of the Will with regard to how the estate assets are to be distributed. In the absence of a Will the court must first make a legal determination regarding the heirs as well as locate the heirs
Dying Intestate in Oregon – What Happens to Your Estate?
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