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Clear form For office use only Date received Oregon Estate Transfer Tax Return Form OR706 (147) Year of Death 2014 Payment BIN Part 1 (Please print or type.) Decedents first name, middle initial,
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How to fill out estate transfer
How to fill out estate transfer
01
First, gather all the necessary documents such as the death certificate, will or legal documents pertaining to the estate transfer.
02
Identify the executor or administrator of the estate. This could be a family member, lawyer, or an appointed representative.
03
Meet with a lawyer or estate planning professional to discuss the transfer process and ensure compliance with the applicable laws and regulations.
04
Create an inventory of the assets and liabilities of the estate. This includes bank accounts, properties, investments, debts, etc.
05
File the necessary paperwork, such as a petition for probate or letters of administration, with the local probate court.
06
Notify potential heirs and beneficiaries of the estate transfer.
07
Settle any outstanding debts and taxes owed by the estate.
08
Distribute the assets of the estate according to the instructions laid out in the will or as determined by the court if there is no will.
09
Document and keep a record of all transactions and distributions made during the estate transfer.
10
Once the transfer is complete, file a final accounting with the probate court to close the estate.
Who needs estate transfer?
01
Individuals who have recently inherited assets
02
Families or individuals who want to create a comprehensive estate plan
03
People who want to ensure their assets are distributed according to their wishes after their death
04
Estate attorneys and professionals involved in probate and estate planning
05
Trustees, executors, or administrators of an estate
06
Beneficiaries of a trust or will
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