[WSBAPT] Providing SS right to remain in home after death

[Tom Stuen]

Kokie:  The trust has to specify what happens when there is no money for taxes and insurance, etc.  Does the trust terminate, or do the remaindermen pony up.

Tom

 

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Kokie Adams
Sent: Monday, April 11, 2016 1:04 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Providing SS right to remain in home after death

 

Question on residence trusts – what happens where there is no money placed in the Trust and the beneficiary is unable (or unwilling) to pay for the expenses?  And how are administrative fees of the Trust paid?

 

I notice more people are requesting a “life estate” type of situation for which I use a residence trust and wondered about what amount of money to place in such trusts. 

 

Thanks, 

Kokie Adams



 

Office:  425.774.0444 | Fax: 425.771.2711 

 <mailto:kokie at adamslawgroupnw.com> kokie at adamslawgroupnw.com 

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

 

 

 

 

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Tom Stuen
Sent: Thursday, April 07, 2016 12:00 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> >
Subject: Re: [WSBAPT] Providing SS right to remain in home after death

 

Ashley:  Attached is the form I use.

Tom

 

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Ashley Raymond
Sent: Thursday, April 07, 2016 11:38 AM
To: wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> 
Subject: [WSBAPT] Providing SS right to remain in home after death

 

I was wondering what the best practice is for providing in a will that, while the house goes to the kids, the surviving spouse has the right to reside in the home (and responsibility of paying taxes, etc.) Should the home be put into a trust with the kids as trustees or is it okay to just outline the terms in the will? What if there is a mortgage on the home?

 

Thanks,




Ashley Raymond, J.D., LL.M.

Ashley Raymond, PLLC

707 S. Grady Way, Suite 600

Renton, WA 98057

Ph: 425-496-7495 | Fax: 425-406-6331

ashley at ashleyraymondlaw.com <mailto:ashley at ashleyraymondlaw.com> 

 

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110 110th Ave NE, Suite 100

Bellevue, WA 98004                         

 

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