[WSBAPT] Community Prop. Agmt with unequal disposition

[Timothy E Williams]

Since the primary purpose (though not the sole purpose) of a CPA is to
avoid probate, I don’t think this does it. What do I do with the house? I
don’t think a title company would touch this, so you do a probate anyway.
Can I use a CPA as a will substitute and give part to the kids, part to
charity and avoid probate? The statute seems to say I can “concerning the
status or disposition of the whole or any portion of the community
property, . . ., to take effect upon the death of either.”

Given that, this would probably work, but a properly drafted will with a
joint will agreement would be cleaner. I would be interested in hearing
from title officers. 

Contrary to the way many CPAgreements are drafted (I will not draft a 3
prong agreement) I believe the statue is clear that the agreement ONLY
takes effect upon death.

Tim Williams

Tacoma

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Doug Schafer
Sent: Friday, August 01, 2014 1:18 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Community Prop. Agmt with unequal disposition

 

Feedback sought:

Proposed customized Community Property Agreement would recite:
1.  agreement takes effect upon death of first spouse, if neither has
commenced dissolution before that.
2.  all property of either spouse or both spouses is converted (at the
first death) to community property.
3.  at the first death, 55% of the CP will vest in H if he survives, or be
disposed of by his will if he dies first.
4.  at the first death, 45% of the CP will vest in W if she survives, or
be disposed of by her will if she dies first.

Does anyone doubt that (3) and (4) would be upheld?  It's common for
judges in disso proceeding to divide CP unequally, so it ought to be
permissible for spouses to do so by contract. (RCW 26.16.120 "...
concerning the status or disposition of the whole or any portion of the
community property ...")

The couple (2nd marriage) wishes to keep affairs simple and to comingle
H's recent inheritance with their pre-existing comingled assets.  But H
wishes to control disposition of the greater-than-50% percentage of the
whole because of his inheritance.

Doug Schafer

=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D

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