2016 Oregon Estate Tax Rates

The Oregon Estate Tax rate for 2016 is left unchanged from 2015.

Taxable Estate Equal to or more than:	Taxable Estate less than:	Tax rate on Taxable Estate amount more than column 1
$1,000,000	$1,500,000	$0 + 10%
1,500,000	2,500,000	50,000 + 10.25%
2,500,000	3,500,000	152,500 + 10.5%
3,500,000	4,500,000	267,500 + 11%
4,500,000	5,500,000	367,500 + 11.5%
5,500,000	6,500,000	482,500 + 12%
6,500,000	7,500,000	602,500 + 13%
7,500,000	8,500,000	732,500 + 14%
8,500,000	9,500,000	872,500 + 15%
9,500,000		1,022,500 + 16%

Probating Joint Bank Accounts in Oregon

Who Gets the Money in the Joint Checking Account?

People often open a joint account with a child or caretaker so that they can help take care of bills and expenses as they age.  This is typically done for convenience but once that person dies determining who owns the money in the account may not be as easy as you think.  

Under ORS 708A.470, the sums remaining in a bank at the death of a party to a joint account are rebuttably presumed to belong to the surviving party.   What this means in is that the child or caretaker on the account owns the remaining money but you may be able to fight it.  Most people assume that the Will determines who receives the money in the account.

The rebuttable presumption under ORS 708A.470 may be overcome by evidence that the deceased party (1) intended a different result; or (2) lacked capacity when the joint account was established.  

Although not as convenient as opening a joint account, there are many other ways to plan your estate so that you can be protected as you age.  I've written about them here.

How much does Probate cost in Oregon?

One of the most common questions I am asked is how much the administration of a probate estate will cost the beneficiaries.

Probate Administration Costs

For 2016, the cost of filing for probate is $531 for the majority of estates.   The court also charges an accounting fee and that is determined by the value of the estate.  The public notice in the local paper runs between $100 and $500 depending on what part of Oregon you are filing in.  If the person died without a Will, the court will normally require a bond.  There may also be costs associated with selling property.  

Probate Legal Fees

Attorneys' fees in Oregon are based on the number of hours billed and the lawyer's hourly rate.  For the simplest of probates, the fees can be around $2000.  In general, probate legal fees will run between $3,000 and $5,000.    If the estate is large, complex or has unusual assets, the costs can be much higher.  If the heirs and beneficiaries are fighting or if there is outside litigation involved, the costs can be much higher.

All legal fees for the probate administration must be approved by the court.  Your probate lawyer will file with the court and with interested parties.  The court will make a determination on whether the fees are reasonable in light of a narrative and itemized bill.  This is a major protection for any beneficiary.  Judges will see thousands of attorney fee statements during their careers and will know what is reasonable.   Any interested party can object to fee and be allowed to speak the judge at a hearing.

If you have questions, please feel free to contact me below.  I've also answered more questions on the Frequently Asked Question.  You can also learn more about Oregon Probate on my practice area page.