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Oregon Revised Statutes Protective Proceedings; Powers of Attorney; Trusts § 130.515

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) A person must commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death in the manner prescribed by ORS 12.020 within the earlier of:

(a) Three years after the settlor's death; or

(b) Four months after the trustee sends the person a copy of the trust instrument and notice informing the person of the trust's existence, of the trustee's name and address and of the time allowed for commencing a proceeding.

(2) Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for distribution of the property unless:

(a) The trustee knows of a pending judicial proceeding contesting the validity of the trust; or

(b) Any person has notified the trustee in writing that the person might commence a judicial proceeding to contest the trust and a judicial proceeding is commenced by the person within 60 days after the person gives the notification.

(3) If a trust is determined to be invalid, any beneficiary who received a distribution from the trust is liable to the person entitled to the distributed property for the amount or value of the distribution.

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Cite this article: FindLaw.com - Oregon Revised Statutes Protective Proceedings; Powers of Attorney; Trusts § 130.515 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-13-protective-proceedings-powers-of-attorney-trusts/or-rev-st-sect-130-515/

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