Probate
After a loved one passes away, their estate must be go through probate if there are assets that do not have beneficiary designations, are not jointly owned or are not in a trust. Probate is a court process allowing creditors of the deceased person access to the funds before the assets are given to the intended beneficiaries. Probate can last a few months or several years depending on the estate.
Small estates can be distributed through a small estate affidavit which is essentially a less expensive court process.
For more information about the probate process or to speak with a member of NW Estate Law, LLC about an estate, please call (503) 445-2232.