Oregon Statutes 125.230 – Termination of fiduciarys authority; discharge of fiduciary
(1) Except as provided in subsection (3) of this section, a fiduciary‘s authority terminates upon the death, resignation or removal of the fiduciary or upon the protected person‘s death. If the fiduciary is a guardian appointed solely by reason of the minority of the protected person, the fiduciary’s authority terminates upon the protected person attaining 18 years of age.
Terms Used In Oregon Statutes 125.230
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a guardian or conservator appointed under the provisions of this chapter or any other person appointed by a court to assume duties with respect to a protected person under the provisions of this chapter. See Oregon Statutes 125.005
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means a person appointed as a guardian under the provisions of this chapter. See Oregon Statutes 125.005
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Protected person: means a person for whom a protective order has been entered. See Oregon Statutes 125.005
(2) Resignation or removal of a fiduciary does not discharge the fiduciary until a final report or accounting has been approved by the court, any surety exonerated and the fiduciary discharged by order of the court.
(3) A guardian retains the authority to direct disposition of the remains of a deceased protected person if the guardian is unaware of any contact during the 12-month period immediately preceding the death of the protected person between the protected person and any person with priority over the fiduciary to control disposition of the remains under ORS § 97.130 or to make an anatomical gift under ORS § 97.965. [1995 c.664 § 25; 1997 c.472 § 11; 2007 c.681 § 26]