(1) Within three months after a petition is entered in the register of the court under ORS 130.355, or within such longer time as the court allows, a trustee must make reasonably diligent efforts to investigate the financial records and affairs of the settlor and to take such further actions as are reasonably necessary to ascertain the identity and address of each person who has or asserts a claim against the trust estate. The court shall allow the trustee as much time as requested by the trustee for the purpose of determining the claims against the trust estate. The trustee must thereafter cause to be delivered or mailed a notice containing the information required in subsection (2) of this section to each person known by the trustee to have or to assert a claim against the trust estate and to the Department of Human Services. Notice under this section is not required for any claim that has already been presented, accepted or paid in full or on account of a claim that is merely conjectural.
(2) The notice required by this section must include:
(a) The name and Social Security number of the settlor;
(b) The name of the trustee and the address at which claims must be presented;
(c) A statement that claims against the trust estate that are not presented to the trustee within 30 days after the date of the notice may be barred;
(d) The date of the notice, which shall be the date on which the notice is delivered or mailed; and
(e) A copy of the settlor’s death certificate. [Formerly 128.266]
Section: Previous 130.315 130.320 130.325 130.350 130.355 130.360 130.365 130.370 130.375 130.380 130.385 130.390 130.395 130.400 130.405 NextLast modified: August 7, 2008