Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on Oregon probate and estate matters.
Detailed Answer
Gathering the right information and documents before a person passes smooths the probate process under Oregon law. Oregon’s probate code, found at ORS Chapter 115 and the will statutes under ORS Chapter 112, relies on clear documentation. Below are key items to assemble in advance.
1. Personal and Family Information
- Full legal name, date of birth, and Social Security number for the decedent. Executors need these to file probate petitions and tax returns.
- Marital status and spouse’s details. Oregon intestate succession rules (ORS Chapter 114) depend on marital status.
- Heirs and beneficiaries list with current addresses and contact information.
2. Estate Planning Documents
- Last will and testament. Oregon requires a written will meeting formalities under ORS 112.155 for self-proving wills.
- Revocable living trust documents, including schedules of trust assets.
- Powers of attorney for finances and health care proxies.
3. Financial and Asset Records
- Bank and investment account statements with account numbers and institution contacts.
- Retirement and pension plan documents along with beneficiary designations.
- Life insurance policies showing coverage amounts and named beneficiaries.
- Real estate deeds and property tax records. Include copies of titles, mortgage statements, and property surveys.
- Vehicle titles and registration for cars, boats, or other titled assets.
- Business ownership documents including partnership agreements, stock certificates, or membership interests.
4. Debts and Liabilities
- Credit card statements and loan agreements.
- Mortgage and home equity line details.
- Outstanding medical bills.
- Tax returns for the past three years.
5. Digital Assets and Accounts
- Usernames, passwords, and security questions for email, social media, and cloud storage.
- Instructions for accessing cryptocurrency wallets or digital safes.
Helpful Hints
- Store original documents in a safe deposit box or fireproof home safe and share access with your executor.
- Provide your executor with a clear, updated list of all assets and accounts.
- Review and update beneficiary designations on retirement, insurance, and financial accounts annually.
- Discuss your plans with loved ones to reduce confusion after your passing.
- Keep digital asset password updates in a secure password manager and ensure your executor can retrieve it.
- Consult an Oregon estate planning attorney to ensure documents comply with ORS Chapter 112 and ORS Chapter 115.