[WSBAPT] Lenders to Trusts

[Al Falk]

Tim,

Funding a revocable living trust is a good time to use a transfer on death deed.  The transfer is effective on death without probate, but in the meantime, secured loans should not be a problem.  If yours is the first one that a particular lender has seen, a little education may be needed, but it should work.

Al Falk

Alfred M. Falk
Harlowe & Falk LLP
Attorneys at Law
One Tacoma Avenue N., Suite 300
Tacoma, WA 98403
(253) 284-4413 (direct)
www.harlowefalk.com<http://www.harlowefalk.com/>

Fellow, the American College of Trust and Estate Counsel

Unless expressly stated otherwise, any federal tax advice contained in this communication (including attachments) is not intended to be used, and cannot be used, for the purpose of avoiding federal tax penalties.

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Timothy L. Austin
Sent: Monday, December 08, 2014 10:03 AM
To: WSBA Probate & Trust Listserv
Cc: Judith V. McMurtrie
Subject: [WSBAPT] Lenders to Trusts

Listmates,

Does anyone out there know of any banks or financial institutions that are willing to loan directly to trusts, rather than making the client go through the questionable practice of taking the property out of the trust, borrowing against it, and then putting it back in?

Thanks,

Tim

_________________________
Timothy L. Austin
Betts Austin, pllc
PO Box 53050
Bellevue, WA 98015-3050
Direct Dial:   (425) 450-3307
Fax:   (425) 450-3310

taustin at nwtaxlaw.com<mailto:taustin at nwtaxlaw.com>






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