Detailed Answer
When someone dies in Oregon, their bank accounts become part of their estate and typically go through probate. You cannot directly withdraw funds until the court appoints a personal representative (also called an executor or administrator). There are two main paths to access a decedent’s bank account:
1. Small Estate Affidavit (Oregon Statutes Chapter 113)
If the total value of the decedent’s personal property (including bank accounts) does not exceed $27,500, Oregon law allows heirs to collect funds using a Small Estate Affidavit. Under ORS 113.155, an eligible person signs an affidavit, attaches a certified copy of the death certificate, and presents it to the bank. The bank then releases the funds directly to the heir without formal probate. See ORS 113.155: https://www.oregonlegislature.gov/bills_laws/ors/ors113.html#113.155.
2. Formal Probate with a Personal Representative
For larger estates, you must open a probate case in the county where the decedent lived. The steps include:
- File a Petition: Submit an Application for Probate under ORS 112.205. You attach the decedent’s will (if one exists) and a death certificate. See ORS 112.205: https://www.oregonlegislature.gov/bills_laws/ors/ors112.html#112.205.
- Appointment: The court issues Letters of Personal Representative under ORS 111.005. These letters serve as official authority to manage estate assets. See ORS 111.005: https://www.oregonlegislature.gov/bills_laws/ors/ors111.html#111.005.
- Estate Bank Account: Using the letters, open an estate bank account. Deposit all funds from the decedent’s account into this estate account.
- Payment of Debts and Distribution: The personal representative pays valid debts, files necessary tax returns, and then distributes remaining funds to beneficiaries according to the will or Oregon’s intestacy rules.
Attempting to withdraw funds without following these procedures can expose you to liability. Always confirm bank policies and court requirements.
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. Consult a licensed attorney to address your specific situation.
Helpful Hints
- Check total estate value first to see if the Small Estate Affidavit (ORS 113.155) applies.
- Gather certified copies of the death certificate before filing any documents.
- Review bank policies; some banks have their own affidavit forms.
- File the probate petition in the decedent’s last county of residence.
- Keep clear records of all deposits, withdrawals, and distributions.
- Consult an attorney if you encounter disputes or complex assets.