[WSBAPT] Title question

[John Creahan]

Perhaps you could have two deeds (one for mom and dad and one for daughter and son in law) that conveyed a 50% undivided interest in the property. This would eliminate the potential for misinterpreting the parents’ intent (resulting in daughter or her husband receiving all of the property) even if each married couple held their interests as jtwros.

John Creahan
206-621-5848
www.cairn-law.com<http://www.cairn-law.com/>


From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lisa Schuchman
Sent: Wednesday, April 29, 2015 2:12 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Title question

They are trying to devise an estate plan that takes into account the value of both parents’ remaining share of the property when dividing their joint estate between their two children (the co-owner daughter and another child).  If there are two joint tenants, the parental share is more clearly fixed and doesn’t depend on their daughter surviving her husband.  It is a small parcel of property and they might just let it be, but I told them I’d look into it.

Lisa E. Schuchman
206-325-2801
www.lisaschuchman.com<http://www.lisaschuchman.com/>

I prefer an excess of caricature to an excess of censorship. -Nicolas Sarkozy

NOTE: I do not use encrypted email.  Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address is not monitored at all times.  If your matter is urgent, please phone my office during regular business hours.

Any tax advice included in this document and its attachments was not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.
P  Please consider the trees before printing this document

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Katharine P. Bauer
Sent: Wednesday, April 29, 2015 1:29 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Title question

My statement should have been, why are you worrying about it?  What is the goal or problem that is of concern.

On Wed, Apr 29, 2015 at 1:23 PM, Tara <pugetsoundlaw at gmail.com<mailto:pugetsoundlaw at gmail.com>> wrote:
The presumption for joint tenancy is that all parties (of any number of individuals) have undivided equal interests in the property.  As each joint tenant dies, the remaining survivors take equal shares.  The last survivor takes all.

A change or transfer of one or more joint tenant’s interest “breaks” the joint tenancy and essentially converts it to a tenancy in common.

The inclusion of “as husband and wife” would indicate a confirmation of the community property character of the property.

I don’t think that you can create a joint tenancy between two marital communities.  After the first individual dies, that would result in unequal shares held between the individuals.

Tara M. Roberts
Puget Sound Law PLLC
roberts at pugetsoundlaw.com<mailto:roberts at pugetsoundlaw.com>

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The information contained in this email is intended as a collegial exchange of ideas, may be incorrect, and is made without warranty of accuracy of any kind.  The ideas and opinions expressed in this message are offered as unresearched thoughts, may be retracted or changed without notice, and do not create any attorney-client relationship.  They should not be relied upon as applicable to any particular fact situation. Thank you.
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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>] On Behalf Of Lisa Schuchman
Sent: Wednesday, April 29, 2015 1:06 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Title question

My clients, a married couple, took title to property with their daughter and her husband.  Here is how the deed describes the grantees:

“Jane Doe and John Doe, wife and husband, and Alice Smith and Bob Smith, wife and husband, as joint tenants with right of survivorship.”

Do we think this is two joint tenants (two couples) or four (four individuals)?  If four, how can we describe it so it is two?

Thanks.

Lisa E. Schuchman
206-325-2801<tel:206-325-2801>
www.lisaschuchman.com<http://www.lisaschuchman.com/>

I prefer an excess of caricature to an excess of censorship. -Nicolas Sarkozy

NOTE: I do not use encrypted email.  Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address is not monitored at all times.  If your matter is urgent, please phone my office during regular business hours.

Any tax advice included in this document and its attachments was not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.
P  Please consider the trees before printing this document


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Katharine P. Bauer
Bauer Pitman Lifetime Legal, PLLC
1235 Fourth Ave. East, Suite 200
Olympia, Washington 98501
tel. 360.754.1976
fax. 360.943.4427

e-mail: kpb at bpblegal.com<mailto:kpb at bpblegal.com>

This message is confidential and may be protected by the attorney-client privilege; it is intended solely for the use of the individual named above. If you are not the intended recipient, you are hereby advised that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this e-mail in error, please immediately notify the sender by telephone or e-mail, delete this message from your files, and return any printed copies to the sender by U.S. mail. Circular 230 Disclosure: Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may be imposed under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction, arrangement, or other matter
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