Legal Question in Wills and Trusts in Oregon
No beneficiary
My father has some investments, but did not appoint a beneficiary. We don't know what we are supposed to do.
1 Answer from Attorneys
Re: No beneficiary
I am assuming from your question that your father has now died. If he is still alive, he can name beneficiaries at any time and change them as well.
Assuming he is deceased, the first thing is to look for a will. If a will is found, it would name someone to be the personal representative. If there is no will, the next step would depend on the value of his estate, not just the investments, but everything (cars, real estate, jewelry, etc.) he owned.
If the value is low enough, it is possible to do a small estate proceeding, otherwise it will be necessary to petition the court to appoint a personal representative (executor) to close out his estate.
Our office offers consultations in this area and would be happy to assist you with these issues.
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