my father died and I am the only next of kin. he had no will. can i take the money in his checking and savings out of his account? what do i need to do to do this. i live in oregon
1 Answer from Attorneys
Re: deceased father
You don't say where your father resided or died. The laws of the state where he resided or died will apply to answer your question.
If he lived in Oregon, the actions necessary to take over the money in his accounts will depend on the value of the accounts. Oregon does have a small estate procedure that applies to estates with less than $50,000 in personal property (including bank accounts) and less than $150,000 in real property (this is a gross amount and includes the mortgage on the property). If he had more money or real property than those limits, it may be necessary to do a probate of his estate.
Regardless of how you obtain the money, you will be required to use his money to pay his final bills (medical, taxes, if any, credit card, utilities, etc.)
Our office assists heirs and devisees all over the state of Oregon and offers a low cost initial consultation.