Oregon State Specific Information

Will, Trust, Power of Attorney, and Estate Planning

Official state laws:

• Oregon Revised Statutes
• Probate jurisdiction rests with the Circuit or County Court

Minimum age requirement to:

• Distribute property by will: 18, but if married no minimum age (Section 112.225)
• Which minor gets property: 18 to 25

Holographic will NOT recognized (No Section exists)

State taxes:

• Estate tax: Equal to state inheritance tax (Section 118.010)
• State gift tax:Inheritance tax: Equal to federal credit for state death taxes (Section 118.010)
  • No state gift tax (Section 118.010)
  • Anatomical Gift Act (Section 97.950 to 97.964)
• Inheritance tax: Equal to federal credit for state death taxes (Section 118.010)

Default rules: How property is distributed if there is no will, i.e. laws of intestate succession: (Section 112.025 to 112.045)

• No surviving spouse, but there are surviving children:
  • All of the estate goes to the surviving children split equally among them or to their children in accordance to their per stirpes share
• Surviving spouse and
  • Children of surviving spouse:
    • All of your estate will pass to your spouse
    • Children not of the surviving spouse (for example your children from a previous marriage):
      • one-half (1/2) of your estate will pass to your surviving spouse, and
      • the other one-half (1/2), split equally among the surviving children or to their children according to their per stirpes share
      • No children and both of your parents of deceased:
        • All of your estate will pass to your spouse
      • No children, but at least one of your parents survives you:
        • All of your estate will pass to your spouse
• At least one parent survives you, but no surviving spouse or children:
  • All of your estate will pass to your surviving parents equally
• No spouse, children, or parents:
  • Siblings (brothers and sisters) equally or to their children according to their per stirpes share. If none, then to your next of kin

Who must be named as a beneficiary in your will:

• Surviving spouse (Section 112.405 and 114.105), andSee statute for more details (Section 112.405 and 114.105)
  • Surviving spouse must be given up to one-fourth (1/4) of your estate; see statute for more details (Section 114.105)
• See statute for more details (Section 112.405 and 114.105)

Effects of changes in your marital status on your will:

• You are divorced from the surviving spouse:
  • Revokes will as to divorced spouse (Section 112.315)
• You get married without changing your will that does not provide for your new spouse:
  • If maker of the will is survived by a spouse, then the will is revoked ((Section 112.305)

Witnesses:

• Minimum number of witnesses required: Two (Section 112.235)
• Are witnesses allowed to be beneficiaries?: Yes (Section 112.245)
• Requirements to be a witness, witnesses must:
  • be an adult,
  • at least one witness cannot be related to you by blood, adoption, or marriage,
  • at least one witness cannot be entitled to anything in your will,
  • not be finically responsible for your healthcare,
  • not be the person who signed your Declaration,
  • not be your attending physician, and
  • at least one witness cannot be an owner, operator, or employee of your treating healthcare facility

Property ownership (Section 93.180):

• Common law state
• Bank account deposits held jointly are payable to any survivor named in the bank account, unless there is clear evidence that a deposit is payable only to a specified survivor
• Tenancy by the entirety is recognized in this state
• Tenancy in common and joint tenancy are recognized, but right of survivorship must be expressly and clearly stated

Other types of wills:

• Self-proving wills recognized: Yes, recognized (Section 113.055)
• Living will: Health Care Instructions (Section 127-531) requires two physicians to agree that you have an incurable and irreversible condition that will result in death within a relatively short time, will become unconscious, and to a reasonable degree of medical certainty, will not regain consciousness, or the likely risks and burdens of treatment would outweigh the expected benefits
• Appointment of Health Care Representative (Section 127-531)
• Durable Power of Attorney (Section 127.005)

 

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