[WSBAPT] Community Property Question

[Claudia Gowan]

Jacob, I didn’t see note of what your clients are looking for but if they
want to ensure that the property is treated as community property, you
should probably do a community property agreement or at least a quit claim
deed to them for the purpose of creating community property.

 

One of the issues with the statute regarding quasi-community property is
that it does not apply in the event of a dissolution of marriage…so, your
overall analysis might include that consideration too.

 

Best, Claudia

 

 

 

Claudia A. Gowan

 

Claudia A. Gowan, PLLC

Market Place One, Suite 330

2003 Western Avenue

Seattle, WA 98121

(206) 443-2733 (T)

(206) 448-2252 (F)

 <mailto:claudia at cagowanlaw.com> claudia at cagowanlaw.com

 

 <http://www.seattletrustsandestates.com> www.seattletrustsandestates.com

 

 

Pursuant to Circular 230 and unless otherwise expressly indicated, any
federal tax advice contained in this communication is not intended or
written to be used, and may not be used, for the purpose of avoiding
tax-related penalties or promoting, marketing or recommending to another
party any tax related matters addressed herein.

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Sam Furgason
Sent: Thursday, February 20, 2014 3:37 PM
To: wsbapt at lists.wsbarppt.com
Subject: RE: [WSBAPT] Community Property Question

 

 

I believe somebody has to be dead before the quasi-community property
rules come into play (check out 26.16.220 et. seq.), so if they are both
still living there is not yet any quasi. 

That gets you into presumptions (property held as husband and wife is
(rebuttably) presumed to be community, which gets into intent. They might
want to clear that up, because there is no mention of quasi in IRC Sec.
1014, which adjusts basis of both halves of community property on death of
one spouse. That is, of course, if they’re still speaking. 

S

 

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Jacob Menashe
Sent: Thursday, February 20, 2014 2:54 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Community Property Question

 

I have a community property versus quasi-community property question.
Husband and wife move to Washington after retirement. They take funds
earned in a non-community property state and purchase a house as “John and
Sally, husband and wife.” Is the house community property or
quasi-community property? 

 

Thanks,

 

Jacob

 

_______________________

Jacob H. Menashe

Hickman Menashe, PS

4211 Alderwood Mall Blvd., Suite 202

Lynnwood, WA 98036

(425) 744-5658 phone

(425) 744-6078 fax

www.hickmanmenashe.com

 

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