In Lake Oswego, Oregon, probate is a legal procedure that a court must go through before giving effect to a will. Before putting a will into effect, a court has to determine that it is valid.
During probate, the court in Lake Oswego, Oregon will determine the validity of the will, distinguish and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
The executor of the estate is often named in the will. If not, the probate court in Lake Oswego, Oregon will name will appoint a person to serve as executor. This is normally the person who stands to inherit the most under the will.
The executor is the person who has to get the ball rolling on the probate process, and essentially serves as a living symbol of the decedent's estate. It is their job to defend the estate from debtors (if a legitimate defense for the debt exists, of course), and wind up any legal proceedings that the decedent might have been immersed in. If an executor needs to be appointed, a court normally chooses the person who will inherit the most if the will is given effect, since that person will have the most reason to carry out the duties of the executor.
Duties of the Executor in Lake Oswego, Oregon
The executor has many duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be finished before the will is given effect.
They further are required to provide notice to the people with a direct interest in the estate that the decedent has died, normally by filing a death certificate.
If the decedent was even somewhat well-off financially, it's likely that they'll have considerable amounts of both debts and assets. The executor is tasked with formulating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the required court papers, and, if necessary, hiring an attorney for help. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A Lake Oswego, Oregon Lawyer Help?
Because of the intricacies involved in probate, it would be smart to hire a brilliant Lake Oswego, Oregon probate lawyer, especially if you are the executor of an estate and unsure how to proceed.