How is an estate distributed if there is a will?

When a person dies in Oregon, their estate is distributed according to their will if one exists. The will is a legal document that outlines the distribution of assets and property in the event of their death. If no will is present, the state of Oregon follows a set of laws called intestate succession which determine the distribution of the estate. In Oregon, when a will is present, the process to distribute the estate is referred to as probate. In this process, the court oversees the estate and makes sure the wishes of the deceased are upheld. The executor named in the will is responsible for gathering all the assets of the deceased, paying bills, and distributing the remaining property according to the will. This process usually takes about nine months to a year. During probate, creditors and claimants are allowed to make claims against the estate. The executor of the estate must inform the various creditors of the deceased’s death and protocols are established for them to make claims. After this process is completed and all financial obligations have been met, the remaining assets are distributed according to the will. It is important to understand that not all assets are distributed through the probate process. Assets such as life insurance policies and retirement accounts typically pass directly to the designated beneficiary, regardless of any instructions in the will. Additionally, joint accounts and tenancies typically pass directly to the co-owner, again, regardless of any will. By understanding the probate process, individuals are able to make sure their assets are distributed according to their wishes and that their estate is distributed properly.

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How is an estate distributed if there is a will?

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