An Oregon Trust generally does not need to go through probate. When you are managing your own trust, you generally have authority to revise, cancel, or manage the trust as you see fit. However, there may be rules, restrictions, and duties outlined in the trust for you to follow. If you are managing a trust on behalf of someone else as a successor trustee, there are duties you must follow outlined under Oregon Law as well as the trust itself. It is important that you read the trust and understand your role. A successor trustee should perform an annual accounting - keeping track of funds spent. As the trust is winding up, a trustee needs to account for the funds and distribute to the beneficiaries. A trustee must follow the Oregon Uniform Trust Code and the instructions in the trust itself.
If you are a successor trustee or have questions about your current trust, NW Estate Law, LLC can help. Call (503) 445-2232 to schedule an appointment with Meredith Williamson.