[WSBARP] Oregon Probate / Small Estate question

[Schmidt & Yee, PC]

Hello David:Perhaps they are referring to ORS 708A.430, which allows an insured institution (i.e. banks and similar) to transfer funds by affidavit if there is under $25Khttps://www.oregonlaws.org/ors/708A.430It is very difficult to use as the financial institutions do not like them and are worry about fraud and exposure to wrongfully paying funds.  I did successfully use this statute about 3 years ago for a client that her spouse died, he was a truck driver and had a sub S corporation in which he was the only shareholder and director.  He had an account at a bank in the name of the corporation and he was the sole signer.  He passed and there was $4000 in the account.  It took a lot of paperwork along with the affidavit to show my client was the only spouse ever, only child signed off and decedent did have a Will that gave everything to the surviving spouse, but we got it. Pam YeeSchmidt & Yee, PC
syaloha at gte.net
Aloha, OR  97078  -----Original Message-----
From: david <david at vaughanlawonline.net>
To: wsbarp <wsbarp at lists.wsbarppt.com>
Sent: Mon, May 13, 2019 8:01 pm
Subject: [WSBARP] Oregon Probate / Small Estate question

Hello, Listmates,
A distant relation is attending to an estate in Oregon. Trying to help guide them from afar, they are relating some questions; hope someone can advise.
My read of Oregon law is that an estate can proceed via probate, or, if it qualifies, via the 'small estate affidavit' approach. However, they seem to be hearing from local counsel of some third option as pertains to probate assets. Does anyone know of another option in Oregon for an estate (very likely under the small estate limits) ?
thanks in advance,
David Vaughan
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