(1)(a) If a person dies intestate as to all or part of the estate of the person, property that the person gives during the lifetime of the person to an heir is treated as an advancement against the heirs share of the estate if declared in writing by the decedent or acknowledged in writing by the heir to be an advancement. (b) For purposes of applying the gift against the heirs share of the intestate estate, the property advanced must be valued as of the time the heir came into possession or enjoyment of the property or as of the time of death of the decedent, whichever occurs first, unless otherwise directed in the decedents writing. (2)(a) Except as provided in ORS 112.385, property that a testator gives during the testators lifetime to a devisee is treated as an advancement of the devisees share in whole or in part if: (A) The will provides for deduction of the gift; (B) The testator declared in writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise; or (C) The devisee acknowledges in writing, before or after the testators death, that the gift was made in satisfaction of the devise or that its value was to be deducted from the value of the devise. (b) For purposes of applying the gift against the devisees share of the testate estate, the property advanced must be valued as of the time the devisee came into possession or enjoyment of the property or as of the time of the testators death, whichever occurs first, unless otherwise directed in the testators will or a writing described in paragraph (a)(B) of this subsection. (3)(a) Property not subject to probate administration, the transfer of which is intended by the decedent to take effect on death, is treated as an advancement against the heirs share of the estate or the devisees devise under the will if declared in writing by the decedent, or acknowledged in writing by the heir or devisee, to be an advancement. Examples of transfers under this subsection include but are not limited to beneficiary designation, right of survivorship and transfer on death deed or transfer on death designation. (b) The property transferred under this subsection must be valued as of the time of the decedents death, unless otherwise directed in the testators will or in a writing by the decedent.
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