[WSBAPT] TOD Deed Recording Procedure?

[Erin Fairley]

Hi All,

I’ve prepared my first TOD Deed.  When recording, do I also need completed Real Estate Excise Tax Affidavit?   This language is on the deed:

The recording of this Revocable Transfer on Death Deed is not a “sale” as defined in RCW 82.45.010(1) and is therefore not subject to real estate excise tax.  The transfer that will occur under this Revocable Transfer on Death Deed at the time of the grantor’s death is exempt from the Washington Real Estate Excise Tax by reason of RCW 82.45.010(3)(b) and WAC 458-61A-202(7).

What forms are necessary to present at the Recorder’s office?

Thank you,
Erin




121 Lakeside Avenue, Suite 108
Seattle, WA 98122
mailto:efairley at advocateslg.com
Phone: (206)-535-7929; Cell:  (206) 353-4625
http://www.advocateslg.com<http://www.advocateslg.com/>


[cid:324730D6-356C-4CBF-89F4-A47D32C49E69]




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From: Tom White <thomas.henry.white at gmail.com<mailto:thomas.henry.white at gmail.com>>
Reply-To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Date: Wednesday, November 25, 2015 at 4:29 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Deferral of Special Needs Trust in Trust provisions

I think anything you draft to allow the trustee to convert into an SNT for an unborn grandchild might or might not work--there should really be statutory safe-harbor language for people who want to write it into their trust.

Someone who wanted to abuse that provision could do it without leaving the beneficiary much recourse.  Still, any trust will fail with the wrong Trustee, so I think the upside of some SNT contingency language probably outweighs the downside.

On Tue, Nov 24, 2015 at 9:37 AM, Eric Nelsen <Eric at sayrelawoffices.com<mailto:Eric at sayrelawoffices.com>> wrote:
I had a thought while working on another matter, that there are situations where an estate planning client might want to provide for a trust for someone – grandchild, for example – but does not know whether that beneficiary might at some point need government benefits, and a special needs trust would be appropriate.

What do y'all think about having an option for a Trustee to fund a special needs trust and terminate the ordinary trust early? Something like:

If the Trustee determines, in Trustee's sole and absolute discretion, that X qualifies or could qualify for government benefits but for the benefits provided under this trust, then Trustee may retain counsel to create a special needs trust for X's sole benefit during his/her life and having remainder interest provisions identical to this current trust, and having trust purposes and distribution instructions that would allow X to qualify for such government benefits, and upon creation of such special needs trust may terminate this Trust and transfer all remaining assets into such special needs trust.

Would this work? Assuming the special needs trust had the appropriate provisions, I think this could change an ordinary trust into a non-self-settled special needs trust if it becomes necessary.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1320 University St
Seattle WA  98101-2837
phone 206-625-0092<tel:206-625-0092>
fax 206-625-9040<tel:206-625-9040>


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--

Tom White
Attorney-At-Law
Seattle, Washington
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