What is probate?

Probate is the court supervised process to transfer assets to the intended recipients. Oregon has two different probate procedures. The small estate probate is a simplified probate process and can be used if the decedent’s real property does not exceed $200,000 and cash assets and personal property do not exceed $75,000.

If the values are exceeded, then the estate must go through the full probate process. This type of probate can be cumbersome, expensive, and time consuming. Further, information regarding your estate, including the proposed distribution of your assets, becomes public record. Many people prefer to set up an estate plan that avoids the cost and formalities of the probate process.