Q: Transferring funds from stock with affidavit of domicile more than one year old.
My mother passed away in 2015, I was appointed by the Oregon court as personal representative. I have since found stock/bonds in her name. I have filled out a affadavit of domicile and provided all nessecary documents however my notarized personal rep form given by the court is more than one year old. Is there anyway to transfer/reconcile these funds while her probate estate is closed rather than reopening her estate with the court? There is no expiration date on the notarized personal rep form given to me from the court.
A: You are obligated to re-open the probate estate, and obtain an updated appointment as personal representative if there is no payable on death beneficiary listed on the stock/bonds. If the original estate was processed as a small estate, you may still be able to transfer the stocks/bonds under a supplemental affidavit if the total value of estate assets is still below the statutory limit of $75,000 for personal property and $200,000 for real property. If the stocks/bonds have a payable on death beneficiary listed, then you will not need to re-open the probate estate. You should contact an attorney to discuss this in more detail.
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