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Who can be a trustee in Oregon?

individual or a financial institution. If there is more than one, they are co-trustees. A successor trustee may also be named and acts only if a trustee can no longer fulfill that role.

Who can be a trustee on a trust deed in Oregon?

In Oregon, any competent adult can be the trustee, including the person setting up the trust. An Oregon bank or trust company can also act as trustee. You can appoint more than one trustee, can delegate different duties to each trustee, and can retain the power to remove the trustee and appoint a new one.

What are typical trustee fees?

Normal ranges tend to be somewhere between 1 and 1.5 percent of the estate value. Ironically, the larger the estate, the lower the percentage typically is. Some firms also charge a minimum annual fee to protect themselves against putting in a lot of work for relatively small estates.

How does a trust work in Oregon?

A living trust in Oregon allows you to have use and control of your assets while they remain in trust for your beneficiaries. A revocable living trust (sometimes known as an inter vivos trust) is a popular estate planning option with a variety of benefits. An Oregon living trust is established by the grantor.

Who can be the trustees?

The trustee can be the same person or organisation as the executor of the will, or it can be someone different. Its just as important to choose a trustee carefully as it is to choose the executor carefully.

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