[SPAM] Re: [SPAM] RE: [WSBAPT] Trustor-Trustee with co- Trustee not a Trustor

[Mike Winslow]

It is not  mandatory to record any notice or deed when there is a change
of trustee. If a future transaction is to be processed, title may ask for
proof of change of trustee at that time.
 
Having said that,  I have a matter where the trustee has been removed for
breach of the trust provisions and it would be appropriate for the county
tax record to show a change of trustee, in order to deliver the property
tax statements to the correct person.
The former trustee will still be living in the real estate and may
continue to hold themselves out as trustee (yes, there are issues).
I have in mind to record a “Notice of Change of Trustee” with the County
Auditor, since the trustee was removed and a new trustee appointed by
court order.  My thought is to attach a copy of the court order to the
notice. We will most likely need to have the new trustee sell the real
estate, so  between that and believing it prudent to actually put the
world on notice of the change of trustee, there are valid reasons to
create record notice. So I would only record something if there is a good
and prudent reason to do so.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
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request.
 
From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Robert Millsap
Sent: Wednesday, May 07, 2014 1:28 PM
To: wsbapt at lists.wsbarppt.com
Subject: [SPAM] Re: [SPAM] RE: [WSBAPT] Trustor-Trustee with co- Trustee
not a Trustor
 
Best to ask a title company about the consequences.  I believe it is not
necessary for a quitclaim deed to add     the daughter.
 
It is still a grantor trust (see IRC 672 I believe to give you some
authority) even after the daughter has been added so an EIN should not be
required.  Coordinate with an accountant.  The accountant is part of the
team the daughter will need to be a Trustee for her mom.  My two cents.

Sent from my iPhone

On May 7, 2014, at 11:33 AM, "Michael Atkins"
<michael at westseattleattorney.com> wrote:
Kristina:
My two cents --  maybe just use current Trust provisions (Trustee powers)
that allow her as Trustee to appoint , retain, hire her daughter to do
.......  (maybe as an attorney in fact for a Power of Attorney),or amend.
Why would IRS number or return be needed if trust is not receiving any
income? 
Mike
<sigimg0>
 
-------- Original Message --------
Subject: [WSBAPT] Trustor-Trustee with co- Trustee not a Trustor
From: Kristina DeVore <kristina at devore-law.com>
Date: Wed, May 07, 2014 11:01 am
To: "wsbapt at lists.wsbarppt.com" <wsbapt at lists.wsbarppt.com
<mailto:wsbapt at lists.wsbarpptcom> >
I have a client with a RLT from 2005.  She is the sole Trustee of her
trust.  We are amending the trust to provide that she have a co-Trustee to
act with her who is not a Trustor (her daughter).  
 
Can anyone tell me if assets like her home need to be retitled to grant
ownership now to both Trustees of the Trust (client and her daughter)?
The home was transferred to the trust in 2005 to client as Trustee of the
trust.
 
Also, since the client is still an acting trustee, is the trust still
disregarded by the IRS so there is no need to get a tax id number?
 
Your thoughts would be greatly appreciated.
 
Kristina
 
Kristina S. DeVore
Attorney & Counselor at Law
KRISTINA DEVORE LAW FIRM, pllc
300 W. 15th Street, Suite 305
Vancouver, WA  98660
Phone: (360) 695-0535
Fax: (360) 737-4154
kristina at devore-law.com
 
 
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Bar Association nor its officers or agents. 
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Bar Association nor its officers or agents. 
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