Not later than four months after a petition under ORS 130.355 is entered in the register of the court, the trustee of the trust shall give notice to persons with claims against the trust estate in the manner provided by ORS 130.365 and 130.370. All claims against the trust estate are barred unless those claims are submitted before the later of:
(1) Four months after the date of first publication of notice to claimants in the manner provided by ORS 130.365; or
(2) If the trustee delivers or mails a notice to a claimant under ORS 130.370, 30 days after a notice meeting the requirements of ORS 130.370 is delivered or mailed to the last-known address of the person having or asserting the claim.