Disclaimer: This article is for informational purposes only. It does not constitute legal advice. Consult a qualified attorney for advice on your specific situation.
Detailed Answer
Under Oregon law, a personal representative (also called an executor or administrator) must keep heirs informed and fulfill specific duties. These requirements promote transparency and protect beneficiaries’ rights.
1. Notice to Heirs and Devisees
Within four months of appointment, the personal representative must notify all known heirs and devisees. This notice must include:
- Identification of the estate and personal representative.
- The right to receive a copy of the will (if any) and of the letters of appointment.
- Information on the right to file a request for an inventory or accounting.
Statute: ORS 113.165 (Notice to devisees and heirs).
2. Inventory and Appraisement
The personal representative must file an inventory of the estate’s assets within three months after qualifying. The inventory must list all real and personal property, its value, and any encumbrances.
Statute: ORS 113.205 (Inventory; appraisement; filing; notice; time).
3. Accounting and Reports
Heirs may request a formal accounting of estate receipts, disbursements, and distributions. The personal representative must serve a written report when requested. If no request is made, the court may still require periodic accounting.
Statute: ORS 113.315 (Statement of receipts, disbursements and distribution).
4. Fiduciary Duties and Additional Obligations
The personal representative owes a duty of loyalty and care. Key duties include:
- Securing and managing estate property.
- Paying valid debts and taxes.
- Keeping heirs apprised of significant developments.
- Distributing assets according to the will or Oregon intestacy laws.
Failure to comply with these duties can lead to court sanctions or personal liability.
Helpful Hints
- Document all communications with heirs and keep proof of service.
- Mark calendar deadlines: four-month notice, three-month inventory, accounting requests.
- If you’re an heir, review notices promptly and ask for copies of documents if needed.
- Maintain organized records of estate assets, expenses, and distributions.
- When in doubt, request a court-supervised accounting or talk to an estate attorney.