Bill > SB15

This bill modifies the rules for simple estate administration in Oregon by changing how the fair market value of assets is calculated for estates. Specifically, the bill separates manufactured homes from other personal property when calculating asset limits for simple estate affidavits. Under the new law, up to $75,000 of personal property (excluding manufactured homes) and up to $200,000 of real property and manufactured homes can be included in a simple estate. The bill also provides a clear definition of a "manufactured home" as a movable residential structure built according to federal safety standards. For estates where the deceased left a will, the bill allows certain assets to be devised to a trust while still qualifying for the simple estate process. The fair market value of assets will be determined either at the date of death or within 45 days before filing the affidavit if the death occurred more than a year earlier. These changes will apply to estates of decedents dying on or after the effective date of the act, and the bill includes provisions for potential interactions with other pending legislation.

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https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB15