Legal Question in Wills and Trusts in Oregon
my deceased son's estate
my son passed away 4 weeks ago. The only thing he had besides a little furniture, clothes, personal items is a small settlement from an accident a year ago that is still pending (about $3,000). He owned a vehicle that I cosigned on and am taking responsibilty for that. He had more debt than money. I have received overdraft notices from his bank so there is nothing there. What will happen if I do not become his personal representative? Does someone have to? Is it in my best interest to file a small estate affidavit? What stuff he did have I do not want to part with as it's all we have of him. I just feel like it's harder than it should be. I have called his creditors and sent out death certificates. I have seen an attorney, but feel more confused than ever. I need some solid advice on what to do.
1 Answer from Attorneys
Re: my deceased son's estate
My condolences on your son's passing.
A personal representative opens the estate and administers any debts or distrubtions to beneficiaries. You will however not be personally liable for your son's debts, unless you were to misappropiate funds.
A personal representative locates the deceased's properties and pays the debts to the specific creditors who manage to file claims during the pendancy of the probate. The value of an estate in this scenario is that your son's debts will be wiped out BY LAW after the probate is closed. This may relieve any questions to who receives the $3k or personal property, and you may be able to keep that assuming your his sole heir under the laws of intestacy.
However, you could also send a letter to all his creditors stating that he has passed away and his estate does not have any property. The creditors may choose not to pursue any claims.
A small estate proceeding applies if: 1) total assets are $140,000 or less; 2) real property is worth less than $90,000; and 3)personal property is less than $50,000. Your son's estate should qualify under the small estate.
I recommend you consult with a lawyer to make sure you proceed appropriately and are not missing anything that you are not aware of.
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