- An image of the Oregon state seal;
- The words, "Secretary of State Corporation Division; and
- Our phone number: 503-986-2200
The Oregon Secretary of State Corporation Division sent out the following alert today:
The warning also reminded businesses that official correspondence from the Corporation Division will always contain the following three items:
Though different in form, like many of our western neighbor states Oregon offers a simpler, more streamlined alternative process for settling the more modest estates of some decedents. Oregon’s “small estate affidavit" allows for the transfer of property of a decedent to the heirs if intestate (where there is no will) or devisees if testate (where there is a will), when the property subject to probate totals no more than $275,000 in value, $200,000 of which can be Oregon real property, and $75,000 of which can be Oregon personal property (including cash and bank accounts).
Each year, the vast majority of small estate affidavits filed in Oregon courts are submitted by self-represented parties. This is understandable, given that the fewer assets an estate has to transfer, the less interested a party will be to pay an attorney to provide the necessary services. However, stories abound of both intentional abuse of and honest confusion by unrepresented parties regarding the small estate process. To address these concerns, the Oregon legislature enacted HB3007, making the following key changes to Oregon’s small estate process, as well as many others, all of which are effective this coming January 1, 2020.
To see all of the changes coming as a result of HB3007’s passage, view the enrolled text of the bill on the Oregon legislature’s website by following the link below. And, if you happen to be someone that purchases legal forms, make sure that you stop using any old small estate affidavit forms at the new year.
For informational purposes only and not to be relied upon as legal advice or for the formation of an attorney-client relationship.